A group of industry leaders, tech gurus, and policy experts who spoke at U.S. Chamber of Commerce’s U.S.-India Business Council (USIBC) conclave here on Wednesday emphasised the importance of increased convergence between India and the U.S. across several areas, including AI infrastructure, quantum technologies, biotech. defence, space, AIOT (artificial intelligence of things).
The conclave was held in connection with USIBC’s 50th anniversary.
U.S. Consul General in Chennai Chris Hodges said commerce today remained at the heart of partnership between India and the U.S. ‘‘Top institutes of higher learning, laboratories, research and development centres, IT firms, start-up incubators, and deep pools of human resources talent make it a natural focus for collaboration under the TRUST (Transforming the Relationship Utilising Strategic Technology) initiative on AI, quantum, semiconductors, biotechnology, and space.”
In his opening address, USIBC president Ambassador Atul Keshap (retd) said: “Fifty years ago, USIBC was born out of a belief that the U.S. and India could accomplish more together. Today, we are building the next 50 on that same foundation of trust.”
Speaking on the occasion, Priyank Kharge, Minister of Electronics, Information Technology & Biotechnology and Rural Development & Panchayat Raj, emphasised Karnataka’s readiness to be a central partner in global innovation.
Kiran Mazumdar-Shaw, president and founder, Biocon Ltd., said over the decades, the two nations have evolved from trade and investment to deep collaborations in science, technology, and innovation.
‘’We must envision a U.S.-India technology ecosystem that moves beyond transactions toward joint capability-building that delivers resilience, inclusivity and global impact. In a world where geopolitical uncertainties and shifting alliances increasingly influence global supply chains and technology leadership, our partnership stands as a beacon of stability,’‘ she observed.
The next 50 years
Going forward, Ms. Shaw said economic growth would be led by digital technologies, AI and high-quality data that support LLMs. “Data exchanges will form the foundation of a bilateral trade agreement between US and India which is to be announced shortly,’‘ she anticipated.
According to Ms. Shaw, India provides the largest pool of STEM talent to the U.S., with over 2 million professionals contributing to technology, research, and innovation.
U.S. companies were investing in areas like AI, semiconductors, clean energy, and digital infrastructure in India. At the same time, Indian companies have been investing in IT services, and now increasingly in technology R&D, digital health, biomanufacturing, and advanced analytics, she said.
Pharmaceuticals, she said, remained a cornerstone of this partnership, as India played a vital role in global and U.S. healthcare by ensuring a steady supply of affordable medicines.
‘’India supplies over 45% of generic and 15% of biosimilar volumes consumed in the U.S. annually. Over the past decade, generics and biosimilars have saved the U.S. healthcare system over $3 trillion,’‘ she said, adding these savings have enabled broader insurance coverage and made essential medicines accessible to a larger population.
Published – June 25, 2025 10:37 pm IST
