India and the United States are advancing their collaboration to achieve self-reliance in critical minerals, enhance supply chains, and adopt cutting-edge technologies, Union Commerce and Industry Minister Piyush Goyal announced.
In his keynote address at the US-India Business Council’s (USIBC) 49th annual general meeting in New Delhi, Goyal underscored the strategic significance of the India-US relationship.
He described it as one of the most consequential global partnerships with shared interests in both bilateral and geopolitical matters.
A major development in this collaboration is the expansion of the global semiconductor supply chain.
The US Department of State will partner with the India Semiconductor Mission (ISM), part of the Ministry of Electronics and IT, to explore ways to grow and diversify the semiconductor ecosystem.
The International Technology Security and Innovation (ITSI) fund, established through the CHIPS Act of 2022, will back this initiative.
Goyal also emphasized the critical need for a global coalition against terrorism.
Reflecting on the 9/11 attacks on the World Trade Center, he highlighted the ongoing global threat of terrorism.
Goyal stated, “India has been suffering from terrorism promoted from across our borders since decades. Acts like 9/11 attack, divisive tendencies, inflammatory and fake propagandas should be denounced.”
He commended the resilience of the American people and reiterated the need for unity among like-minded nations.
Discussing domestic policies, Goyal further emphasized PM Modi government’s ‘Reform-Perform-Transform’ principle, which aims to drive governmental reforms to improve performance and transform the lives of citizens.
He urged attendees to share their positive experiences working with India to help spread awareness of the country’s reforms.
Citing Swami Vivekananda’s renowned 1893 Chicago speech, Goyal aligned its themes with the USIBC Summit’s focus on partnership and prosperity in the era of artificial intelligence and critical technologies.
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