India, US Sign Agreement On Semiconductor Supply Chain

After a three-year hiatus, the India-USA Commercial Dialogue was relaunched with a strategic outlook and a focus on supply chain resiliency and diversification as well as new emerging areas. It was at this time that India and the US signed an MoU on the semiconductor supply chain and innovation partnership. During March 10th dialogue in New Delhi, US Secretary of Commerce Gina M. Raimondo and Union Minister of Trade and Industry Piyush Goyal signed the agreement. In February 2019, the most recent India-US Commercial Dialogue took place. Since then, due to the pandemic and other factors, it could not be held. Prior to its official launch on November 9, 2022, the India-US CEO Forum was soft-launched by the Indian Minister of Commerce and Industry and the US Secretary of Commerce via videoconference. Its key objectives included improving supply chain resilience, enhancing energy security, lowering greenhouse gas emissions overall, advancing inclusive digital trade, and facilitating post-pandemic economic recovery, particularly for small businesses.