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00:00And at the same time, U.S. companies looking for more resilience in both their markets
00:05and their supply chains are shifting out of China and expanding into India.
00:11Take for example, Apple's significant investment in Indian production.
00:16Within the next couple of years, over a quarter of all iPhones in the world will be made right
00:22here in India.
00:23Or Ford's recent expansion in Chennai, which will add thousands of jobs in Tamil Nadu.
00:30And I want to take a moment to talk about supply chains specifically.
00:34The United States, India, and other key democratic partners have all been reminded, abruptly
00:40and sharply, that we cannot ignore the ways in which interdependencies can be weaponized
00:45against us.
00:47We've seen countries lose access to critical minerals that support our clean energy and
00:52electronics industries.
00:54We've seen companies struggling to compete against China's predatory industrial strategies
00:59in chips and clean energy and other emerging technologies.
01:03And of course, we've seen repeated attacks on industries tied to our critical infrastructure,
01:09which is heightening the risks not only to cyber espionage, but of destructive sabotage.
01:15That's why as we launched ICESat, both President Biden and Prime Minister Modi made it a priority
01:20to invest in national programs that are spurring production in sectors that have become overly
01:27reliant on a single country, China.
01:31These include the U.S. Chips and Science Act, the India Semiconductor Mission, and India's
01:36production-linked incentive program in areas such as biopharmaceuticals.
01:41And the benefits of those programs are already flowing to both of our countries.
01:46Micron was the first not just American but global company to partner with India's Semiconductor
01:52Mission, investing hundreds of millions of dollars in new semiconductor packaging facilities
01:57that will establish India as a new hub in the global chip ecosystem.
02:03India and the United States joined hands with the ROK, Japan, and Europe to establish a
02:08new biopharmaceutical supply chain consortium, the BioFive, that will help reduce dependence
02:15on single-source suppliers in terms of the supply chain for biopharmaceuticals.
02:23We are poised now to expand those efforts into new sectors, most notably commercial
02:28space exploration.
02:30In fact, literally as I speak, U.S. companies are providing support to a Spadex satellite
02:37docking experiment that will enable new Indian missions to the moon.
02:43And as a result of new updates to our missile technology control export policies that President
02:48Biden signed out last week, and which I'm glad to announce publicly for the first time
02:53today, our commercial and civil space partnership is set to lift off.
02:59Second, as we've strengthened the technology partnership between the U.S. and India, we've
03:05started delivering for the Indo-Pacific region as well.
03:09Just take a look at the U.S.-India Defense Partnership.
03:11The growth of our defense partnership over the past two decades has been nothing short
03:15of remarkable.
03:17Consider that 25 years ago, the U.S. and India had no defense-trade relationship at all.
03:24No frameworks for information sharing or logistics cooperation.
03:28No major military exercises to train alongside each other.
03:32Today, the U.S. isn't just selling defense systems to India.
03:36We are making them here in India.
03:39And the United States has become a top destination for Indian defense exports.
03:44We launched a first-of-its-kind initiative, IndusX, that is awarding American and Indian
03:49startups the funding to more rapidly bring new technologies forward to our militaries.
03:55And on top of this, in the past two years alone, the Biden administration has approved
04:00technology proposals that would enable India to become the first global producer of striker
04:05combat vehicles, a leading producer of advanced munition systems, and the first foreign producer
04:12of cutting-edge maritime systems.
04:15We've already announced a groundbreaking initiative to enable India to manufacture jet engines
04:20that will power India's future indigenous fighter fleet.
04:25And even more work is underway in aviation and sensing and undersea that will come to
04:29fruition soon.
04:32And so many of these initiatives have the capacity to spread way beyond the U.S. and
04:36India to eventually help countries across the Indo-Pacific region upgrade their defensive
04:41capabilities as well, because that is a critical goal that unites us to ensure a more free,
04:48more secure, more prosperous, and more resilient Indo-Pacific region.
04:54And in fact, the stronger defense cooperation between the U.S. and India is already enabling
04:59greater security.