India and US to Enhance Clean Energy Supply Chains

India and the United States on Tuesday announced a major push to strengthen clean energy cooperation, pledging to take bilateral technical, financial, and policy support to the next level as part of efforts to boost manufacturing capacity and build on existing clean energy partnerships.
The announcement came after a meeting by Prime Minister Narendra Modi and President Joe Biden at Greenville, Delaware on Saturday. The partnership aims to establish a "shared, resilient, and cutting-edge techno-industrial base" with a focus on innovative methods of clean energy manufacturing.

That says the US and India are working to unlock a billion dollars in new multilateral finance through the International Bank for Reconstruction and Development, or IBRD. That is money that will fund projects designed to catalyze India's domestic clean energy supply chain.
The collaboration will enhance US and Indian manufacturing capacity in clean energy technologies and collaborate on efforts in third countries, especially in Africa. This effort is a follow-up on the current ongoing clean energy collaborations between the two countries, such as those launched during Prime Minister Modi's 2023 visit to the United States and the Strategic Clean Energy Partnership, which is a joint programme managed by US Department of Energy and Indian ministries.
The White House stated that the US-India partnership acts as a model of leadership for clean economic development globally, in the 21st century. While doing so, both nations look forward to deepening their relationship during their collaboration on issues of shared national and economic security by focusing on capturing benefits of the clean energy transition.
The new partnership will work towards creating quality jobs, accelerate clean energy deployment globally, and achieve global climate goals. The United States and India will further mobilize additional financing in key clean energy manufacturing sectors through both public and private financial tools.
They will engage with government agencies, civil society, and the private sector to identify pilot projects throughout the clean energy value chain, working closely with industry leaders to drive these efforts forward.