Defence Innovation Summit to accelerate U.S.-India co-development and co-production
The Hindu
The inaugural INDUS-X Defence Innovation Summit is expected to result in an Indo-U.S. Joint Innovation Fund to boost deep tech defence startups in both countries.
Ahead of Prime Minister Narendra Modi's State Visit to the U.S., a select group of eminent defence sector firms from the two nations will participate in an innovative summit which would serve as a bridge and is expected to give a strong boost to the defence-industrial cooperation between the two nations.
INDUS-X is part of the broader strategic and defence partnership initiative, “the Defence Innovation Bridge”, announced under the initiative on Critical and Emerging Technology (iCET) and led by the U.S. Department of Defence and India’s Innovation for Defence Excellence initiative under India’s Department for Defence Production.
To be attended by some of the key private-sector defence players from India and the U.S., the INDUS-X Summit beginning June 20 will see the initiation of “Joint Challenges” under the Defence Innovation Bridge, focussing on common dual-use cases for both nations.
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The inaugural INDUS-X is expected to result in an Indo-U.S. Joint Innovation Fund to boost deep tech-defence startups in both countries.
The fund aims to utilise a Public-Private Partnership model to assemble funds and expertise. The conference will involve leading universities, incubators, and accelerators. Partnerships with these entities will support defence innovation projects.
America’s Ambassador to India Eric Garcetti is scheduled to deliver a keynote address to launch INDUS-X on June 20 during which a Joint Working Group will be established to guide activities under the Defence Innovation Bridge. This group will encourage interaction between startups and delegates of both countries, fostering mutual confidence, officials from organisers, the U.S.-India Business Council (USIBC), said.
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