US-India Boost Semiconductor and Critical Mineral Partnerships

The US and India held the 6th Commercial Dialogue to strengthen semiconductor supply chains and critical mineral partnerships. A new MoU was signed to enhance resilience in critical minerals, emphasizing joint ventures and innovation. Future plans include boosting SME collaboration and clean energy partnerships.

The 6th US-India Commercial Dialogue convened on Thursday, marking significant strides in semiconductor supply chains and critical mineral partnerships. Commerce Secretary Gina Raimondo and India's Commerce Minister, Piyush Goyal, reviewed progress under the Indo-Pacific Economic Framework for Prosperity.

A memorandum of understanding was recently signed between the two nations, aiming to enhance resilience in critical mineral supply chains by capitalizing on their complementary strengths. This agreement emphasizes mutually beneficial commercial development, encompassing exploration, extraction, processing, refining, recycling, and recovery.

Both leaders highlighted ongoing efforts to establish resilient and sustainable semiconductor ecosystems. They also underlined their commitment to fostering innovation and business opportunities between US and Indian firms. Future initiatives include expanding SMEs' market presence and supporting green technology adoption.

(With inputs from agencies.)