3.1: Technology Exchange
Technology Exchange Other Information:
Across all sectors Technology and R&D are key determinants of business prosperity and national competitiveness. India and
the US are already cooperating in Technology and R&D. Based on a special effort to evolve closer ties in Technology, the future
could witness an explosion of such activity. In addition, India is a major buyer of high technology equipment from defense
to avionics to engineering components/systems. It needs however, reliable, long-term sources of supply and simple and rational
export licensing measures that carry a guarantee of stability and continuity. These will ensure that the US companies are
not competitively disadvantaged in the Indian marketplace. Regulations permitting the export of technology sensitive items
will mean that US companies can export to India or partner Indian companies to significantly accelerate various science and
technology programs. India, on its part, needs to create the appropriate policy and regulatory climate to encourage adoption
of technology in sectors of national importance such as "green environment", "safety and security" and "energy efficiency".
Specific incentives (lower taxes and/ or import tariffs) could be geared toward fostering increased use of such technologies.
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