RT team
The United States and India are set to enhance their collaboration by providing increased technical, financial, and policy support to develop global clean energy supply chains, as announced by the White House. This announcement followed a meeting between Prime Minister Narendra Modi and President Joe Biden in Greenville, Delaware, during Modi’s three-day visit to the U.S.
The two nations aim to establish a resilient and innovative techno-industrial base, focusing on advanced clean energy manufacturing techniques. A key aspect of this initiative is the plan to facilitate USD 1 billion in new financing through the International Bank for Reconstruction and Development (IBRD) to support projects that will bolster India’s domestic clean energy supply chain.
This partnership intends to augment US and Indian manufacturing capacities for clean energy technologies and components, and to initiate enhanced cooperative efforts in third countries, particularly in Africa. These efforts build upon the foundations of previous initiatives such as the clean energy projects launched during Modi’s 2023 visit to the U.S., and the Strategic Clean Energy Partnership.
The collaboration is designed to set a global example and position the U.S. and India as leaders in sustainable economic development for the 21st century. It underscores a shared commitment to high-quality job creation, acceleration of global clean energy deployment, and the achievement of climate objectives.
Additionally, the partnership plans to mobilize further financing into key clean energy manufacturing sectors using innovative financial tools to meet the growing demand for climate finance solutions. The U.S. and India will also work closely with government agencies, the private sector, and civil society to identify and develop a series of pilot projects within the clean energy value chain.
