“We see India as a trusted technology partner and we want to deepen our tech relationship with India…We want to deepen our technology relationship with India,” she said after both the countries inked an MoU to strengthen cooperation in the semiconductor sector. The MoU comes in the backdrop of efforts by the Indian government to attract more investment in the chip making and display sector.
Raimondo, who is leading a delegation including executives from 10 US companies, said India’s ambitions to advance its manufacturing were “totally aligned with the United States’ desire and goal to make our supply chain more resilient”.
She also said she would announce a number of “substantial investments” by US firms in India, without giving any details.
The MoU has been signed for establishing semiconductor supply chain and innovation partnership under the framework of India-US Commercial Dialogue, which was relaunched after a gap of three years. The MoU seeks to establish a collaborative mechanism between the two governments on semiconductor supply chain resiliency and diversification in view of the US’s CHIPS and Science Act, and India’s Semiconductor Mission.
Addressing the joint media briefing, commerce and industry minister Piyush Goyal said the MoU would help in expanding mutual cooperation and enhancing resilient supply chains.
At the end of the commercial dialogue, both sides announced the launch of a new Working Group on Talent, Innovation and Inclusive Growth. The move will further the cooperation on startups, SMEs, skill development and entrepreneurship, including in digital and emergent technologies, Goyal said.
On China
Raimondo said the US was not seeking a “technological decoupling” from China.
“I want to be clear… this isn’t about decoupling, what it is about is keeping eyes wide open to the fact that China is explicitly trying to get access to American technology to use in its military and we need to protect ourselves and our allies and partners from that happening,” she added.
CEO forum recommendations
India and the US will examine the recommendations of the CEO forum for appropriate action to enhance economic ties between the two countries. Commerce and industry minister Piyush Goyal and US secretary of commerce Gina Raimondo on Friday chaired the India-US CEO Forum meet. According to a joint statement issued after the India-US commercial dialogue on Friday, both governments would “examine the CEO recommendations for appropriate action to enhance the economic landscape and ties between India and the US”.