India and US to innovate together like never before!

India-US Strategic and Commercial Dialogue ended on a positive note as both the countries decided to launch a forum next year in a bid to boost innovation, investment and trade ties.

Through the Innovation Forum, New Delhi and Washington will seek private sector feedback and input for bilateral discussions. It will also address a slew of topics including advancement of small and medium-sized enterprises (SMEs), identification of specific skill sets and propel innovation forward, etc.

The Center for Strategic and International Studies will act as a convener of the annual Innovation Forum, which will be supported by a steering committee comprising organisations from both countries.

Meanwhile, India and the US also agreed to support the efforts of the Harvard Business School and the Indian Institute of Management Ahmedabad to develop a cluster map that will assist Indian companies integrate into global supply chains, strengthen India's economy and better enable American companies to identify markets for their products and services in India.

The US State Department said cluster mapping will help US and Indian decision-makers develop more effective.

(Image: Reuters)