India and the US had signed a Memorandum of Understanding (MoU) on critical minerals to ensure open supply chains and promote collaboration between India’s Ministry of Mines and the US government, Union Minister of Commerce and Industry, Piyush Goyal stated on Friday in a press address.

He also highlighted that the MoU focuses on creating resilient semiconductor supply chains.

“This was our sixth commercial dialogue, building on last year’s progress. The strategic discussions, including the critical minerals MoU, centred around resilient semiconductor supply chains. The talks also addressed sustainability and clean energy… There was significant discussion on exploring newer areas of cooperation, such as tourism,” he said, according to ANI reports.

Union Minister also said he has discussed with the US to collaborate with third countries and expand our engagement beyond bilateral relations.

“The ‘innovation handshake’ we signed a year ago has been advanced, with a technology and sustainability summit anticipated next year. We are in discussions with the US to collaborate with third countries and expand our engagement beyond bilateral relations, exploring joint projects in areas such as critical minerals in third countries, or attracting investments from these nations for joint ventures between the US and India,” he said.

He further informed that the 9th CEO Forum, where new dimensions of business collaboration, especially in technology and investment, were discussed.

“We held the 9th CEO Forum, which focused on enhancing business-to-business ties through greater collaboration in technology and investment. Areas like space, aviation, R&D, health, and clean energy are sectors where both the US and India share mutual interests, benefiting the people of both countries and humanity as a whole,” he added, ANI reported.