A Memorandum of Understanding (MoU) has been struck by the US and India to broaden and diversify vital mineral supply chains. The MoU aims to enhance the mutual benefits of essential minerals exploration, extraction, processing, recycling, and related operations between the United States and India by utilising complementary strengths.

Both US Secretary of Commerce Gina Raimondo and India’s Commerce and Industry Minister Piyush Goyal, who co-chaired the 6th India-US Commercial Dialogue in Washington, DC, signed the agreement.

The purpose of the Dialogue was to enhance the economic and investment environment between the two nations, with a renewed emphasis on cutting-edge technologies.

Supply chain resilience, collaboration on clean technology and climate change, equitable digital growth, and standards and conformance cooperation were among the Dialogue’s top priorities.

In a one-on-one bilateral meeting, Piyush Goyal spoke with Ambassador Katherine Tai, the US Trade Representative, about areas of shared interest. These included ways to increase two-way trade between the two nations and how to strengthen the current bilateral cooperation under the India-U.S. Trade Policy Forum.

The Minister had one-on-one talks with Julian Nebreda, CEO of Fluence Energy, a Siemens and AES company, and William E. Convay Jr., Chairman of the Carlyle Group, outside of the India-US Commercial Dialogue.

The Minister discussed India’s reinvigorated efforts to become the top manufacturing destination and further integrate into global supply chains while speaking on the topic of “India’s Evolving Manufacturing Landscape” at the Center for Strategic and International Studies (CSIS), an American think tank.

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