U.S. Agency for International Development and U.S.-India Business Council Sign Memorandum of Understanding to Promote Collaboration on Development Programs in India

Port Blair, Nov 18: Bengaluru:  Recognizing that the private sector is a key driving forcefor India’s inclusive development, today, the U.S. Agency forInternational Development (USAID) and the U.S India Business Council(USIBC) signed a Memorandum of Understanding (MOU) to strengthen theAmerican and Indian business community’s engagement on key developmentgoals.

Signed during the 25th Bengaluru Tech Summit, the MOU expandsopportunities for collaboration between the two organizations andopportunities to connect American and Indian companies with USAIDinitiatives. Working with leading companies in the U.S.-Indiacorridor, USIBC and USAID will coordinate to identify and expandmodels for private sector engagement that can make significantcontributions to climate resilience, public health, agriculture, andeducation. Additional areas of focus include expanding financialinclusion, promoting gender diversity, developing open and inclusivedigital ecosystems, and integrating Indian state economies into largerglobal value chains.

USAID Mission Director Veena Reddy said, “For many years, USAID hasworked closely with experts in India’s and America’s vibrant privatesectors to test and scale innovative development solutions in India,as well as regionally and globally. The MOU signed today with USIBCwill leverage our combined capacities to support India’s developmentgoals. With the right mix of technology, innovation, and partnerships,we can not only make a difference, but a lasting impact.”

USIBC Managing Director Ambika Sharma, added, “This collaboration withUSAID will help us mobilize more private sector expertise andinvestments into knowledge transfer, skills, and productivity thatultimately promote inclusive economic growth. We look forward to ourpartnership with USAID yielding tangible impacts in areas of health,financial inclusion, sustainability, digital skilling, and women’sempowerment.”

While at the Summit, USAID and USIBC announced their firstcollaboration under the MOU, announcing the establishment of a workinggroup focused on improving digital connectivity. The working groupwill engage USIBC members to ideate and examine strategies to bridgethe gender digital divide and expand overall connectivity acrossIndia. This collaboration and the overall MOU is the latest expansionof USAID and USIBC’s existing partnership, which has spannedhealthcare, clean energy, and digital inclusion.

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