What Is Comprehensive Global Strategic Partnership

April 15, 2022

President-elect Joe Biden, who defeated incumbent President Trump in the bitterly contested election, spoke about his vision for the U.S.-India partnership, as well as India`s position in the face of threats in the region. His running mate Kamala Harris, of Indian descent, made history by becoming the country`s first elected vice president. In a global strategic partnership, two or more parties can form a separate legal entity of which they are co-owners: this is called a joint venture. Each party could own the same percentage of the company, or they could share ownership so that a partner owns the majority of the company. For example, two parties could each own 50 per cent, or four parties could each own 25 per cent; Alternatively, one party could hold 60% and the other 40%. These percentages reflect the amount that each party has invested in the business. In addition, percentages determine how much each party has a say in the company`s decisions and how much profit they receive. This type of ownership has largely replaced the traditional hierarchical structure in which one company acts as a parent company that controls the others. However, companies need to agree on how the decision-making process should be organized to avoid confusion.

By working together, two companies can reach a wider audience than if they could work alone. Each company relies on the reputation of the other in its main field of activity. Customers may not even know that the company has partnered with an external company in their home country, — they simply know that they are getting a wider range of services or better products. If the companies each have a good reputation around the world, creating a high-level partnership may indicate that their offerings have improved significantly. A close partnership between the United States and India is essential to a free, open, inclusive, peaceful and prosperous Indo-Pacific region. This cooperation is underpinned by the recognition of the centrality of ASEAN; respect for international law and good governance; support the safety and freedom of navigation, overflight and other legal uses of the seas; legitimate trade without hindrance; and advocating for the peaceful settlement of maritime disputes in accordance with international law. The United States and India are committed to an open, reliable, and secure Internet that facilitates trade and communication. The United States and India recognize the need for an innovative, secure digital ecosystem that facilitates the flow of information and data. Leaders intend to foster collaboration between their industry and academia for an open, secure and resilient supply of strategic materials and critical infrastructure, and to independently assess the risks associated with the use of new technologies. India-US relations were elevated to a “comprehensive global strategic partnership” during President Donald Trump`s visit to India in 2020, a year in which the two countries consolidated their relations here on an unprecedented scale and pace despite the COVID-19 pandemic and domestic political stalemate due to the presidential election. The United States and India recognize the importance of ensuring accountable, transparent and sustainable financing practices for borrowers and creditors to curb the accumulation of sovereign debt in developing and low-income countries. President Trump and Prime Minister Modi have expressed interest in the concept of the Blue Dot Network, a multi-stakeholder initiative that will bring together governments, the private sector and civil society to promote reliable, high-quality standards for global infrastructure development.

As part of a global strategic partnership, two or more companies from different countries work as a team. They pool their resources or skills to offer better products or services. In addition, they reach a wider audience through collaboration. Companies enter into global strategic partnerships because they believe the partnership will lead to synergies, which means increased economic benefits. Instead of creating a separate legal entity, companies could simply work together for a while: this is called a cooperative joint venture. Through this partnership, they can take advantage of marketing conditions that increase demand for a service they can offer together. The companies are also conducting joint research and exploration under this type of agreement. The parties shall draw up a contract setting out the responsibilities of each party and the amount of profits that each party receives. The limited duration of this partnership makes sense due to dynamic and unpredictable international commercialization conditions, Mitchell P. Koza et al.

argue in “The Strategic Assembly of Global Businesses.” Demand is changing rapidly and one company may soon want to work with another to adapt to changing market developments. Stone said the U.S. and India look at Asia from a similar perspective, reflecting the common vision of the Indo-Pacific. The challenge facing India on its northern border has further underscored the importance for India to maintain strong relations with its strategic partners and friends, she said. During the year, the United States and India launched an unprecedented collaboration to respond to the COVID-19 pandemic. Pharmaceutical companies from both countries have worked together to increase the global supply of essential medicines and are collaborating on vaccine development. “President Trump`s historic visit to India (in February) captured a period of remarkable growth in relations. And this has been demonstrated by the decision of President Trump and Prime Minister (Narendra) Modi to elevate the relationship to a comprehensive global strategic partnership,” a senior Trump administration official told PTI, seizing on developments in bilateral relations in 2020. “India-US relations have been a source of strength in the midst of a global pandemic.

From vaccine development to Indo-Pacific security, our countries have worked together to strengthen and deepen our strategic partnership in 2020,” India`s ambassador to the United States, Taranjit Singh Sandhu, told PTI. President Trump and Prime Minister Modi note their countries` shared commitment to promoting effective development solutions in the Indo-Pacific and around the world, and look forward to a new partnership between USAID and the Indian Development Partnership Administration for Third Country Cooperation. President Trump and Prime Minister Modi welcomed the growing relationship between the United States and India in terms of trade and investment in hydrocarbons. As part of their strategic energy partnership, the United States and India aim to improve energy security, expand the links between energy and innovation in their respective energy sectors, strengthen strategic direction, and facilitate increased engagement between industry and other stakeholders. President Trump and Prime Minister Modi highlighted the potential of the United States to achieve India`s goal of diversifying its import base of coking coal and natural gas, and welcomed recent trade agreements to accelerate access to LNG in the Indian market. President Trump and Prime Minister Modi encouraged the Nuclear Power Corporation of India Limited and the Westinghouse Electric Company to finalize the technical-commercial offer for the construction of six nuclear reactors in India as soon as possible. The most senior member of the Senate Foreign Relations Committee, Senator Menendez, has introduced a bill to expand the clean energy partnership with India, and the Gandhi King Bill is expected to pass Congress soon. The National Defense Authorization Law condemns China`s aggressive behavior in the line of actual control. In support of global efforts to prevent, detect and respond to outbreaks such as the new COVID-19, President Trump and Prime Minister Modi pledged to continue their successful efforts in preventing, early detection and responding to outbreaks.

They welcomed a bilateral Memorandum of Understanding to promote access to high-quality, safe, effective and affordable medicines for U.S. and Indian consumers. They welcomed the conclusion of a Memorandum of Understanding that will help both countries address mental health challenges through innovative approaches. President Trump and Prime Minister Modi pledged to deepen defence and security cooperation, including through greater awareness of maritime and space zones and the exchange of information; joint cooperation; the exchange of military liaison personnel; prolonged training and exercises between all services and special forces; closer cooperation in the joint development and co-production of advanced defence components, equipment and platforms; and the partnership between their defence industries. “Our shared strategic perspective has also increased the quality and quantity of regional cooperation between the United States and India. The most obvious manifestation of this has been the quad, which has not only been revived, but is also flourishing. Prime Minister Modi and President Trump recognized the growing importance of the trade and investment dimension of U.S.-India relations and the need for long-term trade stability that will benefit the U.S. and Indian economies. They agreed to immediately conclude the ongoing negotiations, which they hope can become the first phase of a comprehensive bilateral trade agreement that reflects the true ambition and full potential of bilateral trade relations and promotes prosperity, investment and job creation in both countries. “The United States will continue to work to further strengthen the partnership between the United States and India, given our democratic foundations and mutual interest in rebuilding the post-COVID-19 global economy, diversifying global supply chains, and ensuring that the Indo-Pacific region remains free and open,” the official said. .