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India-US commercial dialogue relaunched by Goyal and Raimondo
A Memorandum of Understanding (MoU) on establishing semiconductor supply chain and innovation partnership under the framework of India–US Commercial Dialogue was signed following the relaunch of Commercial Dialogue 2023 in New Delhi on 10 Mar 2023.
The Dialogue discussed cooperation for unlocking new trade and investment opportunities between the two countries.
The MoU seeks to establish a collaborative mechanism between the two governments on Semiconductor Supply chain resiliency and diversification in view of US’s CHIPS and Science Act and India’s Semiconductor Mission.
It aims to leverage complementary strengths of both countries and facilitate commercial opportunities and development of semiconductor innovation ecosystems through discussions on various aspects of semiconductor value chain. The MoU envisages mutually beneficial R&D, talent and skill development.
Commerce and Industry Minister Piyush Goyal and the visiting US Secretary of Commerce Gina Raimondo signed the MoU (Picture). fiinews.com
