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India, USA to boost hi-tech co-operation

2005-11-23 New Delhi: Aiming to smoothen process of bilateral trade in technology, top US and Indian government officials would discuss action plans for cooperation in various areas including defense and nanotechnology in a two-day meet of the High-Tech Cooperation Group (HTCG) beginning here November 30.

US Under-Secretary of Commerce, David McCormick, who is leading the US delegation at the meet said, the HTCG and parallel trade dialouges have had a tremendous impact on bilateral trade over the past three years.

The deliberations would cover diverse fields such as defense technology, information technology, biotechnology and nanotechnology, an Embassy (US) statement said here on Wednesday.

McCormick said total US exports to India have doubled from 4 billion dollar to 7.5 billion dollar over the period.

The time required for companies to recive export licenses for dual-use technologies has dropped 40 per cent to 50 per cent over the period, while the approval rate on those licenses has climbed to 91 per cent, the US official said, adding it was comparable to the approval rates enjoyed by the United State's closest allies.

"Even though there has been progress, there is enormous opportunity. How does one continue to expand high-tech trade at an accelerating rate?" he asked.

Praising India for passing legislations on weapons of mass destruction, he said "it was a symbolic action of the commitment of Indian government to strengthen the security regime around trade in potentially sensitive high-tech products."

Reports

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