US-India Business Council Calls for Enhanced Trade Alliances

The US-India Business Council advises the new US administration to prioritize reciprocal trade deals with India, focusing on sectors such as defense, digital services, and pharmaceuticals. Proposals include forming specific trade councils and enhancing cooperation in energy and AI to boost economic growth and job creation in both nations.

The US-India Business Council (USIBC) has pressed the incoming Trump administration to give precedence to reciprocal trade agreements with India, particularly targeting key sectors like defense, digital services, and pharmaceuticals. In a statement released Saturday, the council laid out extensive recommendations designed to fortify the commercial ties between the two countries under new US leadership.

Focusing on trade, technology, energy security, defense, and supply chain resilience, USIBC's recommendations aim to foster mutual interests and spur significant economic growth. The council emphasized that negotiating sector-specific agreements has the potential to unlock billions in economic opportunities, significantly boosting job creation on both sides of the partnership.

Furthermore, USIBC proposed the establishment of a US-India Trade Council, concentrating on high-growth industries including critical minerals and pharmaceuticals. They also noted the mutual advantages in fields like Artificial Intelligence (AI) and quantum computing, advocating for a US-India AI and Deep Tech Public-Private Council to advance joint research and ethical frameworks.

This initiative is set to drive collaboration in areas such as AI for healthcare and autonomous systems, bolstering both nations' leadership in technology innovation. The council also called for intensified cooperation within the energy sector to address India's increasing energy requirements, recommending a US-India Energy Trade Alliance focused on oil, gas, and nuclear power, specifically small modular reactors (SMRs).

The council asserted that this partnership will boost energy security and assist India in achieving its clean energy objectives while ensuring reliable and diversified energy supply chains. USIBC supported initiating a Supply Chain Resilience Initiative (SCRI) to bolster the US-India partnership in pharmaceuticals, critical minerals, and medical supplies.

Moreover, USIBC suggested creating a fast-track STEM visa program to facilitate skilled workforce exchange between the US and India. The council urged for enhanced defense cooperation, including co-production agreements and joint research and development in defense technologies, coupled with the launch of a Defense Tech Innovation Challenge.

To further innovation, USIBC highlighted the need for stronger intellectual property (IP) protections in India. They proposed establishing an Intellectual Property Protection Incubator to offer training, resources, and legal aid for US companies operating in India. Infrastructure projects in India valued over USD 1 billion should be supported by fast-tracking approvals and reducing delays, according to USIBC's advice to the new administration.

(With inputs from agencies.)