MoU on semiconductor: Union Commerce and Industry Minister Piyush Goyal on Friday met with US Secretary of Commerce Gina M Raimondo to discuss cooperation in several sectors that could lead to new trade and investment opportunities between the two countries.
The Commercial Dialogue, which begins on Friday, is a collaborative effort that includes regular government-to-government discussions as well as private sector meetings, with the goal of facilitating trade and maximising investment opportunities across a wide variety of economic sectors.
Gina M Raimondo stated on Thursday that semiconductor is a shared goal, and that India and the United States are collaborating on a semiconductor programme. “An MoU on semiconductor would be inked on this trip,” she saidd at a press conference yesterday.
“Special thanks to Mr (Piyush) Goyal, my counterpart and also a special thanks to Minister (Rajnath) Singh who invited me to his home yesterday with his family, to celebrate Holi with him which was a fantastic experience,” she added.
Raimondo said she was extremely optimistic. “We’ve been optimistic for US-India relations,” she added. “Our partnership with India is one of our most consequential relationships and I think one of our most promising bilateral relationships, as we look forward.”
The most recent India-US Commercial Dialogue took place in February 2019. It has not been held since then due to the epidemic and other considerations. After a three-year hiatus, it is planned to relaunch the Commercial Dialogue with a strategic focus on supply chain resiliency and diversification, as well as new developing areas.
Previously, the Indian commerce and industry minister and US Secretary of Commerce soft-launched the India-US CEO Forum via video-conference on November 9, 2022, with identified key priorities including increasing supply chain resilience, enhancing energy security and reducing overall greenhouse gas emissions, advancing inclusive digital trade, and facilitating post-pandemic economic recovery, particularly for small businesses.
