“In its first year, INDUS-X has advanced both countries’ commitment to build a defence innovation bridge under the initiative on Critical and Emerging Technology (iCET),” the Department of Defence said in a press release on Friday.
The iCET was launched by Prime Minister Modi and US President Joe Biden on the sidelines of the QUAD summit in Tokyo on May 24, 2022.
“INDUS-X has strengthened private sector cooperation between the United States and India by facilitating partnerships among defence technology companies, investors, and researchers,” the press release said.
The third INDUS-X Summit will take place in Silicon Valley in September 2024 with a focus on harnessing private capital for defence innovation, it said, citing a recent announcement by the White House.
The summit will be co-hosted by the US-India Strategic Partnership Forum (USISPF) and Stanford University. The India-US defence and strategic ties have been on an upswing in the last few years. The two countries have inked key defence and security pacts over the past few years, including the Logistics Exchange Memorandum of Agreement (LEMOA) in 2016 that allows their militaries to use each other’s bases for repair and replenishment of supplies.
The two sides also signed COMCASA (Communications Compatibility and Security Agreement) in 2018 which provides for interoperability between the two militaries and also provides for the sale of high-end technology from the US to India.
In October 2020, India and the US sealed the BECA (Basic Exchange and Cooperation Agreement) pact to further boost bilateral defence ties. The pact provides for the sharing of high-end military technology, logistics and geospatial maps between the two countries.
