The US, India, Israel and the UAE which recently formed a new strategic alliance intend to leverage synergies and complementarities in technology, skills, finances, and project execution capacities to augment global good, Foreign Secretary Harsh Vardhan Shringla announced today.

“The templates that we develop can be used for enhancing our presence in other regions of the world,” he said, adding that the four members of the grouping would collaborate on projects in the four countries as well as in West Asia.

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Addressing the India Global Forum 2021, Shringla said the sectors identified for collaboration between the four countries were: Energy, Food, Water, Health, Transportation and Space. Specific projects were being identified in consultation with industry and would be finalised at a foreign ministers’ meeting of the four nations in Dubai in March 2022. Semiconductors, Green Hydrogen, Food Security and 5G were other areas in which industry was being consulted about the potential for joint collaborations, he added.

Talking about Covid-19, the top Indian diplomat said healthcare and Information Technology have now emerged as major economic drivers. The application of IT to healthcare would transform both.

India has emerged, after the pandemic, as one of the major suppliers of healthcare capacities in the world. More importantly, in a world that was seeking resilient and dependable supply chains, India literally walked the talk.

Even during the bleakest days of the pandemic, India did its utmost to live up to its commitments as a global citizen and exported vaccines and critical pharmaceutical products for the benefit of all, he pointed out.

Shringla noted that the Indian economy was rapidly recovering from the pandemic induced downturn and returning to its trajectory as a rapidly growing economy. India has also emerged as a major green energy hub with one of the most ambitious solar energy production capacities in the world.

He said India has launched ambitious structural reforms to deregulate and enhance economic openness, good governance and global competitiveness. Innovative policy measures such as the Production Linked Incentives scheme were creating globally competitive Indian businesses. Private sector participation has been given a big push in eight areas: coal, minerals, defence production, civil aviation, power distribution, social infrastructure, space and atomic energy. The manufacturing sector has been further opened up to finance and technology flows.