Search the Internet          Tips  Sites: Finance, Investment

India, US plan high-tech co-operation group

Josy Joseph in New Delhi

India and United States on Wednesday agreed to set up a high-level inter-ministerial team of senior officials from both countries to formulate a new definition for high technology trade and to find ways to increase bilateral trade in 'dual use' technology and goods.

The Indo-US High Technology Cooperation Group was set up at the end of a two-day dialogue on high technology commerce between inter-ministerial delegations of the two countries.

The Indian side was headed by foreign secretary Kanwal Sibal, while the US side was headed by US Under Secretary of Commerce Kenneth I Juster.

Juster told reporters later that the two sides discussed 'cooperation in civil-nuclear, civil-space' areas and there is a vast scope in trade in the two sectors.

However, he refused to go into details of any high technology trade that they finalized or any dual use technology trade or transfer that may be in the offing.

Dozens of Indian companies require congressional sanction and other special permissions for high technology purchases from the US and dual use technology trade between the two countries is almost non-existent since the first Indian nuclear tests in 1974.

As a result India was forced to develop several key components for its Light Combat Aircraft and several other military projects, which have all been delayed primarily due to such developments.

"The two delegations agreed to take concrete steps to pursue the commitment between Prime Minister Vajpayee and President George W. Bush during their November 2001 meeting to stimulate bilateral high technology commerce towards realizing their goal of transforming India-US relations," a statement issued by the US embassy in New Delhi said.

Juster said the meeting reviewed the current state of bilateral 'high technology' trade with India, including trade in US controlled 'dual use' items.

"There has been significant improvement" since US lifted most sanctions against India last year, Juster said.

Among the items that India hope to receive are the GE engines for the LCA.

"The two sides pledged to think boldly and creatively about steps that could be taken to further enhance high technology trade in a way that reflects their countries' new relationship and common strategic interests," Jester said.

He said the newly formed High Technology Cooperation Group would "expeditiously work towards developing a new statement of principles governing bilateral cooperation in high-technology trade that broadly advances our relationship in this area. Besides, exploring ways to improve trade in 'dual use' goods and technologies."

ALSO READ:
More Money Headlines

Tell us what you think of this report