India to emerge as hub for AI, digital services under interim US pact: FM
In a significant development, India and the United States have reached a framework for an interim agreement on reciprocal, mutually beneficial trade. The agreement is expected to strengthen India’s leadership in digital services, with Finance Minister Nirmala Sitharaman welcoming the move. According to Sitharaman, the joint technology cooperation will position India as a hub for Artificial Intelligence (AI), data, and digital services.
The interim agreement framework was announced in a joint statement by India and the US, marking a significant milestone in the bilateral trade relationship between the two countries. The agreement is expected to boost trade and investment between India and the US, with a focus on emerging technologies such as AI, data analytics, and digital services.
Sitharaman expressed her enthusiasm for the agreement, stating that it would further cement India’s position as a leader in the digital services sector. “The joint technology cooperation will position India as a hub for AI, data, and digital services,” she said. “This is a significant development, and we welcome the agreement framework. It will strengthen our economy and create new opportunities for businesses and individuals alike.”
The interim agreement framework is expected to cover a range of areas, including trade in goods and services, investment, and intellectual property. The agreement will also provide a framework for cooperation in emerging technologies, including AI, blockchain, and the Internet of Things (IoT).
India has been actively promoting its digital economy, with a focus on emerging technologies such as AI, data analytics, and digital services. The country has a large and growing pool of skilled professionals in these areas, and the government has been actively encouraging investment and innovation in the sector.
The US has also been keen to strengthen its trade and investment relationship with India, with a focus on emerging technologies. The two countries have been engaged in talks on a range of trade issues, including market access, investment, and intellectual property.
The interim agreement framework is expected to provide a significant boost to bilateral trade and investment between India and the US. The agreement will provide a framework for cooperation in areas such as AI, data analytics, and digital services, and will help to create new opportunities for businesses and individuals alike.
The agreement is also expected to have a positive impact on India’s economy, with the potential to create new jobs and stimulate growth. The digital services sector is a significant contributor to India’s economy, and the agreement is expected to further boost the sector’s growth.
In addition to the economic benefits, the agreement is also expected to have a positive impact on the bilateral relationship between India and the US. The two countries have been strengthening their relationship in recent years, with a focus on areas such as defense, security, and trade.
The interim agreement framework is a significant development, and it marks an important milestone in the bilateral trade relationship between India and the US. With the agreement, India is poised to emerge as a hub for AI, data, and digital services, and the country is expected to play a significant role in the global digital economy.
As Sitharaman noted, the joint technology cooperation will position India as a hub for AI, data, and digital services. The agreement is a significant step forward, and it is expected to have a positive impact on India’s economy and its bilateral relationship with the US.
In conclusion, the interim agreement framework between India and the US is a significant development, and it marks an important milestone in the bilateral trade relationship between the two countries. The agreement is expected to strengthen India’s leadership in digital services, and it will position the country as a hub for AI, data, and digital services. With the agreement, India is poised to play a significant role in the global digital economy, and the country is expected to experience significant economic growth and job creation.
News Source: https://x.com/nsitharamanoffc/status/2019965384728932545
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