In Short:
The United States, Japan, and South Korea have joined forces to support India’s digital infrastructure through a new initiative called the Digital Infrastructure Growth Initiative for India (DiGi Framework). Leaders from each country’s financial institutions signed the agreement, aiming to enhance projects in technology areas such as 5G, smart cities, and AI. The framework will streamline collaboration with the Indian private sector and facilitate discussions with the Indian government to boost private investment. This partnership aims to meet the growing demand for high-quality digital infrastructure, promoting sustainable development in the Indo-Pacific region.
By Lalit K Jha
Groundbreaking Collaboration for Digital Infrastructure in India
In an exciting move, **the United States**, **Japan**, and **South Korea** announced a powerful new initiative on Friday aimed at enhancing their collaboration with the **Indian private sector** to boost digital infrastructure across the country. This significant announcement came from the **U.S. International Development Finance Corporation** (DFC), the **Japan Bank for International Cooperation** (JBIC), and the **Export-Import Bank of Korea** (Korea Eximbank).
Introducing the DiGi Framework
At the helm of this initiative, leaders including **DFC CEO Scott Nathan**, **JBIC Governor Nobumitsu Hayashi**, and **Korea Eximbank Chairman and CEO Hee-sung Yoon** joined forces to sign the **Digital Infrastructure Growth Initiative for India Framework (DiGi Framework)**. This framework aims to catalyze projects in essential sectors such as **5G technology**, **Open RAN**, **submarine cables**, **optical fiber networks**, **telecom towers**, **data centers**, **smart cities**, **e-commerce**, **artificial intelligence**, and **quantum technology**.
A Streamlined Approach for Strategic Partnerships
The launch of the DiGi Framework establishes a simplified process that allows **DFC**, **JBIC**, and **Korea Eximbank** to effectively support and address the requirements of strategic digital infrastructure deals in **India**. As part of this initiative, there will also be room for policy dialogues between the Indian Government and the private sector, promoting increased private sector investment in digital infrastructure projects.
Voices of Leaders
DFC CEO **Scott Nathan** expressed enthusiasm about the partnership: “By collaborating with **JBIC**, **Korea Eximbank**, and the Indian private sector, DFC can better harness private capital to meet the growing demand for premium digital infrastructure in India. This framework signifies meaningful progress towards our common goal of promoting sustainable development and prosperity in the **Indo-Pacific**.”
Similarly, **JBIC Governor Nobumitsu Hayashi** noted that the timing of the Framework aligns perfectly with the policies of both the **Indian** and **Japanese** Governments. He highlighted the significance of the agreement reached at the high-level trilateral meeting held in March 2024, under the trilateral memorandum of understanding signed in August 2023.
Adding to the conversation, **Hee-sung Yoon**, Chairman and CEO of **Korea Eximbank**, remarked on the institution’s enhanced development finance role, stating: “This framework, developed collaboratively among our three institutions, will provide a robust foundation for meeting the demands of digital infrastructure in India.”
Commitment to Future Development
As outlined in the statement, the DiGi Framework is a significant stride towards fostering cooperation between **the United States**, **Japan**, and **South Korea** while working closely with **India**. The commitment from DFC, JBIC, and Korea Eximbank to leverage private sector resources underscores their dedication to encouraging top-notch investments in India’s digital infrastructure.
