Port Blair, November 18: Bengaluru: Recognizing that the private sector is a key driver of India’s inclusive development, the United States Agency for International Development (USAID) and the US India Business Council (USIBC) today signed today a memorandum of understanding to strengthen the commitment of the American and Indian business communities on the main development objectives.
Signed during the 25th Bengaluru Tech Summit, the MoU expands opportunities for collaboration between the two organizations and opportunities to connect U.S. and Indian companies to USAID initiatives. Working with leading companies in the U.S.-India Corridor, USIBC and USAID will coordinate to identify and develop models of private sector engagement that can make meaningful contributions to climate resilience, public health, agriculture and education. Other areas of focus include expanding financial inclusion, promoting gender diversity, developing open and inclusive digital ecosystems, and integrating Indian state economies into broader global value chains. .
USAID Mission Director Veena Reddy said, “For many years, USAID has worked closely with dynamic Indian and U.S. private sector experts to test and scale innovative development in India, as well as regionally and globally. The MOU signed today with USIBC will leverage our combined capabilities to support India’s development goals. With the right mix of technology, innovation and partnerships, we can not only make a difference, but also have a lasting impact.
USIBC Executive Director, Ambika Sharma, added, “This collaboration with USAID will help us leverage more private sector expertise and investment in knowledge transfer, skills and productivity which, in ultimately promote inclusive economic growth. We look forward to our partnership with USAID delivering tangible impacts in the areas of health, financial inclusion, sustainability, digital skills, and women’s empowerment.
At the summit, USAID and USIBC announced their first collaboration under the Memorandum of Understanding, announcing the creation of a working group focused on improving digital connectivity. The working group will engage USIBC members to devise and consider strategies to bridge the gender digital divide and expand global connectivity across India. This collaboration and overarching MOU is the latest expansion of USAID’s existing partnership with USIBC, which covers healthcare, clean energy, and digital inclusion.