Indo-US Semiconductor Supply Chain Agreement Signed

New Delhi, Mar 10, (Fast Mail News):-- India has entered into an agreement with the US on Friday to end China's arbitrariness in the field of semiconductors. This agreement has been signed between the two countries for semiconductor manufacturing. Along with this, the India-US commercial dialogue is expected to discuss issues such as increasing bilateral trade, promoting cooperation and investment in important and emerging technologies.

Union Commerce and Industry Minister Piyush Goyal and US Commerce Secretary Gina Raimondo have signed an MoU on establishing a semiconductor supply chain and innovation partnership. India and the US have signed a Memorandum of Understanding (MoU) to establish a cooperative mechanism on semiconductor supply chain resilience and diversification, according to the Ministry of Commerce and Industry.

According to the ministry, Piyush Goyal has also held delegation-level talks with US Commerce Secretary Gina Raimondo. Earlier, Piyush Goyal met US Commerce Secretary Gina Raimondo here. According to the ministry, an MoU for the establishment of a Semiconductor Supply Chain and Innovation Partnership has been signed between the two countries after the Commercial Dialogue 2023 held in New Delhi on the US Commercial Dialogue under the framework of India.

US Commerce Minister Gina Raimondo is on a four-day visit to India at the invitation of Piyush Goyal. The Indo-US Commercial Dialogue is a cooperative venture that includes private sector meetings as well as regular government-to-government meetings. The last India-US commercial level talks were held in February 2019. After this it could not be organized due to the Corona epidemic.

It is noteworthy that India is the ninth largest trading partner of America. Bilateral trade in goods between the two countries is set to record a huge increase in 2022, with a trade volume of $131 billion. It doubled in eight years from 2014 to 2022. In such a situation, it is expected that the total trade in goods and services can cross $ 180 billion. In addition, the US is the third largest source of FDI for India and also one of the top five investment destinations.

Related Business News

Security tightened in NTPC Kaniha

ANGUL:Security in and around 3000MT NTPC Kaniha which provides power to 17 Indian states have been tightened in the wake of India-Pakistan tension.The additional general manager of Human Resource development Navneet Kumar said the Central Industrial Security Force which is in the charge of the....

Gold hits Rs 1 lakh per 10 grams for the first time

Gold prices soared to an all-time high on Tuesday, with the rate of 24-carat gold touching Rs 1,00,000 per 10 grams for the first time ever. According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold surged sharply from Rs 96,670 to Rs 1,00,000 per 10 grams &md....

Dhenkanal: Two killed in Rungta Steel Plant mishap

DHENKANAL:Two labourers died and three others injured in an accident occured in Rungta Steel Plant at Jharabandha here today.The deceased has been identified as Jitendra Behera and Purandar Pradhan of village Antabila in Dhenkanal district. According to informed sources, there was an erection work u....

Tensions Between China And US Escalates As Trump Further Imposes 245% Tariff

The tariff war between the US and China continues. Tensions between the two nations have escalated further after the US imposed a 245% tariff on Chinese goods. Meanwhile, China has responded to the tariffs imposed by the US. According to a Reuters report, China stated that if the US continues this t....

Gold Nears ?1 Lakh per 10 Grams!

Gold prices continue to surge, hitting a new all-time high on Wednesday. According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold rose by ?1,477 per 10 grams in the last 24 hours. As per IBJA, the price of 24-carat gold increased by ?1,477 to ?94,579 per 10 g....