iNDICA NEWS BUREAU-
The US Agency for International Development (USAID) and the US-India Business Council (USIBC) have signed a Memorandum of Understanding to promote and collaborate on development programs in India.
Recognizing the pivotal role played by the private sector in driving inclusive development across India, USAID and USIBC signed the MOU to strengthen the American and Indian business community’s engagement on key development goals.
The MoU that was signed during the 25th Bengaluru Tech Summit on November 17 expands the scope for collaboration between the two organizations, and opportunities to connect companies of both nations with initiatives of the USAID.
While at the Summit, USAID and USIBC officials announced that this is their first collaboration under the MOU. They also stated that a working group has been established to focus on improving digital connectivity. The working group will engage USIBC members to ideate and examine strategies to bridge the gender digital divide and expand overall connectivity across India. This collaboration and the MOU are the latest expansion of USAID and USIBC’s existing partnership has spanned healthcare, clean energy, and digital inclusion.
In accordance with the scope of the MoU USIBC and USAID will work with leading companies in the US-India corridor to identify ways to expand private sector engagement models that can significantly contribute to climate resilience, public health, agriculture, and education. Additional areas of focus include expanding financial inclusion, promoting gender diversity, developing open and inclusive digital ecosystems, and integrating Indian state economies into larger global value chains.
Mission Director of USAID, Veena Reddy, said, “For many years, USAID has worked closely with experts in India’s and America’s vibrant private sectors to test and scale innovative development solutions in India, as well as regionally and globally. The MOU signed on November 17 with USIBC will leverage our combined capacities to support India’s development goals. With the right mix of technology, innovation, and partnerships, we can not only make a difference but a lasting impact.”
Ambika Sharma, USIBC Managing Director, added, “This collaboration with USAID will help us mobilize more private sector expertise and investments into knowledge transfer, skills, and productivity that ultimately will promote inclusive economic growth. We look forward to our partnership with USAID yielding tangible impacts in areas of health, financial inclusion, sustainability, digital skilling, and women’s empowerment.”