India and US Sign MoU on critical minerals to strengthen supply chains: Piyush Goyal
- In Reports
- 11:05 AM, Oct 05, 2024
- Myind Staff
On Friday, Union Minister of Commerce and Industry Piyush Goyal announced that India and the US had signed a Memorandum of Understanding (MoU) on critical minerals to maintain open supply chains and enhance collaboration between India's Ministry of Mines and the US government.
During a press briefing, Goyal emphasised that the MoU is aimed at developing resilient semiconductor supply chains. He noted, "This was our sixth commercial dialogue, building on last year's progress. The strategic discussions, including the critical minerals MoU, centred around resilient semiconductor supply chains. The talks also addressed sustainability and clean energy... There was significant discussion on exploring newer areas of cooperation, such as tourism."
Goyal also highlighted efforts to expand engagement beyond bilateral ties, stating that both nations are exploring global collaboration. "The 'innovation handshake' we signed a year ago has been advanced, with a technology and sustainability summit anticipated next year. We are in discussions with the US to collaborate with third countries and expand our engagement beyond bilateral relations, exploring joint projects in areas such as critical minerals in third countries, or attracting investments from these nations for joint ventures between the US and India," he said.
In addition, Goyal mentioned the 9th CEO Forum, where new avenues of business collaboration, particularly in technology and investment, were explored. "We held the 9th CEO Forum, which focused on enhancing business-to-business ties through greater collaboration in technology and investment. Areas like space, aviation, R&D, health, and clean energy are sectors where both the US and India share mutual interests, benefiting the people of both countries and humanity as a whole," Goyal added.
The talks underscore India and the US's commitment to broadening cooperation in sectors vital to economic growth, sustainability, and technological advancements.
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