Friday, October 11, 2024

World Bank President Ajay Banga Envisions a Prosperous Future for India

by Manjari Singh

Indian Prime Minister Narendra Modi concluded a pivotal three-day visit to the United States on Tuesday, solidifying the strategic partnership between the two nations and advancing collaborative efforts in technology and security.

World Bank President Ajay Banga lauded Prime Minister Modi for his consistent focus on nurturing robust relations with the U.S., both bilaterally and through multilateral frameworks like the Quad security grouping. Speaking to ANI on the sidelines of the 79th United Nations General Assembly, Banga emphasized that Modi’s strategic approach has been a cornerstone of his leadership since taking office.

“Prime Minister Modi has been building a very strong relationship with the US, both bilaterally and through the Quad. This has been his strategy from day one,” Banga remarked. “He is ensuring long-term engagement on strategic and economic issues, particularly through initiatives that position India as a key partner in global manufacturing opportunities, including the semiconductor sector.”

During his visit, PM Modi participated in the sixth Quad Leaders’ Summit, hosted by U.S. President Joe Biden, alongside Australian Prime Minister Anthony Albanese and Japanese Prime Minister Kishida Fumio. The summit underscored the quartet’s commitment to enhancing security and economic cooperation in the Indo-Pacific region.

In addition to high-level diplomatic engagements, Modi engaged with the Indian diaspora in New York at the ‘Modi and US’ event and delivered a keynote address at the ‘Summit of the Future’ during the United Nations General Assembly. These interactions highlighted his dedication to fostering a vibrant bilateral relationship and addressing global challenges through collective action.

A significant highlight of the Prime Minister’s visit was a roundtable discussion with leading U.S. tech CEOs at the Massachusetts Institute of Technology (MIT) School of Engineering. The event featured prominent figures such as Shantanu Narayen of Adobe, Sundar Pichai of Google, Arvind Krishna of IBM, Lisa Su of AMD, and Jensen Huang of NVIDIA. Modi assured these industry leaders of India’s unwavering commitment to protecting intellectual property and promoting technological innovation.

“Ensuring that India remains a strong partner in manufacturing and technology is crucial,” Modi stated during the roundtable. “We are dedicated to creating an environment that fosters innovation and protects the intellectual assets that drive our industries forward.”

The discussions during Modi’s visit focused on enhancing collaboration in cutting-edge fields like artificial intelligence, quantum computing, semiconductors, and biotechnology. An official statement from the Prime Minister’s Office highlighted that these talks revolved around the global technology landscape and the transformative impact of innovations on human development and the world economy. U.S. CEOs expressed a keen interest in partnering with India to leverage these advancements for mutual growth.

Central to these collaborative efforts is the India-US Initiative on Critical and Emerging Technologies (iCET), which Modi highlighted as pivotal to the Comprehensive Global Strategic Partnership between the two nations. The initiative aims to harness technology cooperation to drive economic growth and address shared challenges.

As the Prime Minister returned from his visit, the strengthened ties between India and the United States reflect a mutual commitment to strategic and economic collaboration. With leaders like Ajay Banga recognizing the significance of these efforts, the foundation is set for a future marked by innovation, security, and sustained partnership between the world’s largest democracies.

Manjari Singh

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