WASHINGTON (Diya TV) — India and the U.S. are set to deepen collaboration in crucial sectors following a virtual review meeting between Piyush Goyal, India’s Minister of Commerce and Industry, and U.S. Secretary of Commerce, Ms. Gina Raimondo.
Minister Goyal underscored the growing alignment of the two nations, emphasizing the role of initiatives such as QUAD, IPEF, and I2U2 in fostering regional and global cooperation in emerging sectors. The meeting delved into the significance of platforms like the Semiconductor Supply Chain and Innovation Partnership, Innovation Handshake, India-Middle East-Europe Economic Corridor, and the Global Biofuels Alliance, urging industry leaders to explore collaborative opportunities.
Acknowledging the contributions of Forum members, Goyal highlighted reforms initiated by the Government, including doubling the export value threshold for courier customs clearance and incorporating a separate e-commerce chapter in the Foreign Trade Policy. Industry-led initiatives such as NIHIT (www.nihit.org) and FIST (Framework for Integrity, Security and Trust) were also commended.
Secretary Raimondo expressed gratitude for the efforts of Goyal, the Co-chairs, and Forum members over the past year. Recognizing the impact of recent high-level visits between Prime Minister Modi and President Biden, she urged the CEO Forum to capitalize on the current momentum and implement pivotal recommendations outlined by Forum members.
Four new members from the U.S. industry, including Honeywell, Pfizer, Kyndryl, and Viasat, were announced as part of the CEO Forum during the meeting. The Forum, co-chaired by Mr. N. Chandrasekaran and Mr. James Taiclet, is a l catalyst for economic cooperation and a key advisory body to the India-US Commercial Dialogue.
Discussions during the meeting revolved around key areas of collaboration, including supply chain cooperation in pharmaceuticals, semiconductors, critical minerals, and energy. The parties also explored collaborative opportunities in green technology, scaling up manufacturing for clean tech, and strengthening partnerships in critical and emerging technologies.