Cabinet okays pact with US to enhance innovation ecosystem

New Delhi, December 15

The Union Cabinet on Friday cleared a slew of pacts signed between India and nations such as the US, Saudi Arabia, Italy and Tanzania related to several key sectors like trade, electronic manufacturing and commerce.

The Cabinet approved the draft MoU between India and the US to enhance innovation ecosystems through an innovation handshake.

It would contribute significantly strengthening commercial opportunities in high tech sector, official sources said.

During the 5th India-US Commercial Dialogue which was held in March during the visit of US secretary of commerce Gina Raimondo, the Commercial Dialogue was re-launched with strategic focus on supply chain resiliency, climate and clean technology cooperation, advancing inclusive digital economy, and facilitating post-pandemic economic recovery especially for SMEs and start-ups.

It included launch of a new working group on talent, innovation and inclusive growth (TIIG) under the Commercial Dialogue.