Piyush Goyal signs MoU on critical minerals during the 6th commercial dialogue with the US.
Washington DC, October 4: Union Minister of Commerce and Industry, Piyush Goyal, announced on Friday that India and the US have 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 conference, Goyal emphasized that the MoU aims to establish resilient semiconductor supply chains.
"This was our sixth commercial dialogue, building on last year's achievements. The strategic discussions, including the critical minerals MoU, centered on resilient semiconductor supply chains. We also addressed sustainability and clean energy... There was significant discussion on exploring new areas of cooperation, such as tourism," he stated.
Goyal further mentioned that both countries are working to expand their engagement beyond bilateral ties to include other regions of the world.
"The 'innovation handshake' we signed a year ago has progressed, with a technology and sustainability summit planned for next year. We are in discussions with the US to collaborate with third countries and broaden our engagement beyond bilateral relations, exploring joint projects in critical minerals in third countries or attracting investments from these nations for joint ventures between the US and India," he explained.
He also highlighted the 9th CEO Forum, where new avenues for business collaboration, particularly in technology and investment, were discussed.
"We held the 9th CEO Forum, which focused on enhancing business-to-business connections through greater collaboration in technology and investment. Sectors such as space, aviation, R&D, health, and clean energy are areas where both the US and India share mutual interests, benefiting the people of both countries and humanity as a whole," Goyal added.