US, India hold 6th ministerial-level Commercial Dialogue, signs MoU

Union Minister of Commerce and Industry, Mr. Piyush Goyal and United States Secretary of Commerce, Ms. Gina Raimondo convened the 6th Commercial Dialogue in Washington, where they evaluated advancements in semiconductor supply chains, innovation initiatives, and the Indo-Pacific Economic Framework for Prosperity. During the meeting, the two leaders signed a new memorandum of understanding (MoU) aimed at expanding and diversifying critical minerals supply chains, leveraging the complementary strengths of both countries to enhance resilience in this sector. Key areas of focus include identifying equipment, services, policies, and best practices for the commercial development of critical minerals exploration, extraction, processing, refining, recycling, and recovery.

Union Minister of Commerce and Industry, Mr. Piyush Goyal and United States Secretary of Commerce, Ms. Gina Raimondo commended ongoing efforts to establish secure and sustainable semiconductor supply chains and pledged to collaborate under the MoU to foster mutually beneficial business opportunities, including investments and technology partnerships. They highlighted the success of recent roundtables that connected the startup ecosystems of both nations and discussed priorities for future cooperation in critical minerals, semiconductors, and healthcare products. Looking ahead, they expressed enthusiasm for the upcoming US Department of Commerce-led Global Diversity Export Initiative Trade Mission to India in March 2025, which aims to expand opportunities for US small and medium-sized enterprises (SMEs) in the Indian market.

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