New Delhi, Jan 11 (IANS): The US Chamber of Commerce on Friday launched an innovation initiative which will examine economic underpinnings that enable breakthrough innovation and explore how policymakers can harness innovation capital in India and around the globe, the industry chamber said in a statement.

The "Fair Value for Innovation" initiative was launched by the US Chamber's Global Innovation Policy Center (GIPC) at the Raisina Dialogue here, the statement said.

GIPC Senior Vice President Patrick Kilbride said in a statement: "The promise of India's innovation ecosystem is real, and the US industry has a stake in it.

"We believe India is ideally positioned as a thought-leader and regional economic power to help bring the benefits of innovation in AI (artificial intelligence)," said NITI Aayog Chief Executive Amitabh Kant.

The Raisina Dialogue is an annual conference on geopolitics and geo-economics, organised jointly by the Observer Research Foundation and the External Affairs Ministry.