On March 10, Secretary Gina Raimondo joined Indian Minister of Commerce and Industry Piyush Goyal and introduced a U.S.-India Memorandum of Understanding (MOU) that may set up a Semiconductor Supply Chain and Innovation Partnership. The MOU was introduced on the relaunch of the U.S.-India Commercial Dialogue and can give attention to clear vitality in addition to semiconductor provide chains. The Secretary was in New Delhi from March 5-10 the place she met with Prime Minister of India Narendra Modi, attended the U.S.-India CEO Forum, and held a number of essential bilateral conferences with Indian officers.   

“As both of our great nations seek to create stronger and more secure supply chains, particularly in the field of semiconductors, this MOU will establish a collaborative mechanism between our two countries on semiconductor supply chain resiliency and diversification and will aim to create economic opportunity in the U.S. and India,” mentioned Secretary Raimondo in a statement. “This is a significant step in the coordination of both our countries’ semiconductor incentive programs and will strengthen mutual priorities, including promoting commercial opportunities, R&D, and talent and skill development.”

To start her journey, India’s Defense Minister Rajnath Singh hosted Secretary Raimondo at his dwelling in honor of the annual Hindu pageant Holi. Several different Indian officers additionally joined the festivities.

“A day filled with color, joy, and light,” mentioned Raimondo. May we supply it with us as we proceed to strengthen the bonds between India and the United States.”

Later within the week, Secretary Raimondo met with Prime Minister of India Narendra Modi the place they mentioned the U.S.-India CEO Forum and U.S.-India Commercial Dialogue in addition to the brand new Strategic Trade Dialogue and U.S.-India MOU on Semiconductor Supply Chain and Innovation Partnership 

At the U.S.-India CEO Forum, Raimondo careworn the significance that the Biden Administration locations on U.S.-India relations and emphasised the numerous alternative to deepen industrial ties between the 2 nations.

The U.S.-India CEO Forum was soft-launched by Secretary Raimondo and Indian Commerce & Industry Minister Goyal in November 2022 throughout a gathering between the 2 leaders. During the assembly, they recognized key priorities as rising provide chain resilience; enhancing vitality safety & decreasing total greenhouse fuel emissions; advancing inclusive digital commerce; and facilitating post-pandemic financial restoration, particularly for small companies.

Throughout her go to, Secretary Raimondo additionally held a number of bilateral conferences with ministers from India together with Minister of Electronics and Information Technology Ashwini Vaishnaw, Minster of External Affairs Dr. S. Jaishankar, Minister of Finance Nirmala Sitharaman, Minister of Education and Skill Development and Entrepreneurship Dharmendra Pradhan, and Indian National Security Advisor Ajit Doval. During these conferences, the Secretary mentioned key areas of shared curiosity, together with the Indo-Pacific Economic Framework for Prosperity, semiconductors, and provide chain resilience.

The journey comes on the heels of final month’s profitable particular negotiating spherical for the Indo-Pacific Economic Framework in New Delhi, which was attended by senior U.S. Department of Commerce officers.