News Excerpt:
The India-U.S. Defence Acceleration Ecosystem Summit, INDUS-X, began in New Delhi.
About the summit:
- Objective: The summit aims to enhance strategic technology partnerships and defence cooperation between India and the USA.
- It is organised by India's Innovations for Defence Excellence (iDEX) and the U.S. Department of Defence in collaboration with the US-India Business Council and Society of Indian Defence Manufacturers (SIDM).
- Participants include representatives from governments, academia, research organizations, investors, defence startups, technology incubators, and industry associations.
- Significance:
- The summit will bring together stakeholders from both countries to explore and leverage emerging opportunities in defence innovation.
- It seeks to enhance connectivity among domestic entrepreneurs, markets, skilling institutions, government labs, and investment capital, crucial for successful innovation ecosystems.
- It is expected to pave the way for future technological advancements and strategic partnerships, the summit will foster cross-national science and technology networks.
INDUS-X initiative:
- iDEX, in partnership with the US Department of Defence, launched the India-US Defence Acceleration Ecosystem (INDUS-X) in 2023.
- It has been launched as part of the vision to build a ‘defence innovation bridge’.
- INDUS-X aims to –
- Pave the way towards the goals established in the US-India roadmap for defence industrial cooperation.
- Capitalise on the tech-releasability outcomes that the industry anticipates from the US-India Initiative on Critical and Emerging Technologies (iCET).
- Explore joint opportunities in high-tech defence innovation, research and development.
- Strengthen bilateral trade relationships and defence establishment linkages.
- According to the US Chamber of Commerce, INDUS-X has the potential to be a catalyst for India to achieve its target of USD 5 billion in defence exports by 2025 and diversify its defence supply chain.
India's Innovations for Defence Excellence (iDEX):
Defence Innovation Bridge: The collaboration agenda under it includes –
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