During his recent State visit to the United States (US), Prime Minister Narendra Modi was greeted with a lavish reception brimming with optimism and infused with deep symbolism. Every choice — song, food, flower, and colour—made at these events is a signal. From the playing of the American classic Ain’t no Mountain High Enough or India’s patriotic standard Aye, Mere Watan ke Logon (a poignant tribute to soldiers lost in the 1962 war), that signal was eminently clear: In the face of shared challenges, the US and India will stand together.

During his recent State visit to the United States (US), Prime Minister Narendra Modi was greeted with a lavish reception brimming with optimism and infused with deep symbolism. Every choice — song, food, flower, and colour—made at these events is a signal. From the playing of the American classic Ain’t no Mountain High Enough or India’s patriotic standard Aye, Mere Watan ke Logon (a poignant tribute to soldiers lost in the 1962 war), that signal was eminently clear: In the face of shared challenges, the US and India will stand together.

The signal was backed by substance. Utilising the iCET framework, the Joe Biden administration invested enormous political capital to cut through bureaucracy and expand India’s access to sophisticated defence capabilities. India will be the first non-treaty ally to receive American jet engine technology via the sale of General Electric Aerospace GE-F414 engines for indigenous fighter aircraft production. Potentially more impactful in the long-term, both countries have also outlined plans to co-invest in future capabilities ranging from 5G, Artificial Intelligence (AI), quantum, space, and gravitational technologies.

The significance of these accomplishments cannot be overstated. When I was a young officer at the State Department, India was on a list of nations where measures were being taken to prevent any tech bleed; to suggest lifting an export control on them was borderline heretical. How far we have come, together.

During the State visit, government, industry, academia, and financial institutions also partnered to launch the INDUS-X platform, which will connect Indian defence start-ups with American corporate technology and global capital — ultimately offering a stronger path to Atmanirbhar Bharat (self-reliant India) while forging an Indo-US co-development and co-production strategy. For its immediate security needs, India is set to procure the MQ9 Guardian drone, which will supplement other American maritime-patrol platforms such as the Boeing P-8I Poseidon to build India’s surveillance and deterrent capability along its lengthy land borders and in the Indo-Pacific.

During the launch of the INDUS-X platform, US ambassador to India, Eric Garcetti, captured the transformation of Indo-US relations succinctly, “If our Facebook status used to be ‘it’s complicated’, today, the US and India are ‘dating’.”

But these are turbulent times, and we cannot rest on our laurels. For effective deterrence, we need a stronger architecture to bolster the competitiveness of our market economies. The recent decision by both sides to terminate six outstanding disputes at the World Trade Organization sets a positive tone for the bilateral trade partnership. It reflects the tireless advocacy of industry bodies for the US and India to focus on productive, not confrontational, economic relations. With that aim in mind, I see three pillars to construct.

The first comprises agreements that will allow our private sectors to boost trade and investment — the muscle and sinew of our strategic partnership. The sooner India joins the echelon of countries with which the US has $500 billion in annual trade, the better for all of us. Major companies are already galloping forward with huge investments in both directions, but to institutionalise and facilitate greater commercial activity across sectors, we need a Bilateral Investment Treaty. The next element would be a US-India Digital Services Agreement. To lead the digital economy this century, we must get our standards and regulations around data privacy and data flow aligned. A good place to start would be a Quad MoU on data governance, which can be expanded to scientific research and development, and could serve as a foundation on which we could advance negotiations.

The second pillar will facilitate the exchange of talent between our two democracies. The announcement of new consulates in Bengaluru, Ahmedabad, and Seattle are overdue and welcome steps. Funds should be secured for interim operations even while full construction may take time. In addition, the US and India should negotiate an agreement that would allow American companies to utilise the e-Treaty Trader and Treaty Investor visa classifications. Such an agreement would be a game-changer for US companies to seek and retain critical talent from India. Lastly, any administrative reforms to expedite visa processing for Indian nationals must be implemented effectively to avoid needless business disruptions that have become commonplace.

The third pillar must focus on an array of agreements on enhancing mutual recognition of standards and interoperability of our platforms. Mutual recognition agreements for commercial electronics, harmonised Quad standards for telecommunications equipment, and interoperability of our defence platforms (enabling India to become a North Atlantic Treaty Organization supplier) would position our two nations to shape the global technological and security landscape.

Right now, the bilateral engines are revving, but we need a stronger economic architecture to carry us to new heights. If we build it right, in a future State visit, there will be an occasion for another portentous tune, Come Fly with Me by Frank Sinatra. In the song, the narrator invites his partner on a soaring adventure, even predicting that, once they reach the heavens, they’ll hear, “Angels cheer, just because we’re together.”

Ambassador (retired) Atul Keshap is President, US-India Business Council. The views expressed are personal