MoU to be signed on semiconductor during this trip: US Commerce Secretary Raimondo

New Delhi [India], March 9 : US Secretary of Commerce Gina M Raimondo on Thursday said semiconductor was a shared priority and India and the US are implementing a semiconductor programme. She added that an MoU would be signed on semiconductor during this trip.
Raimondo said during a telephonic press briefing, "It is really an honour to be here and I want to thank all of the ministers to have so graciously hosted me while I stand here."
"Special thanks to Mr (Piyush) Goyal, my counterpart and also a special thanks to Minister (Rajnath) Singh who invited me to his home yesterday with his family, to celebrate Holi with him which was a fantastic experience," she added.
Raimondo said she was extremely optimistic. "We've been optimistic for US-India relations," she added. "Our partnership with India is one of our most consequential relationships and I think one of our most promising bilateral relationships, as we look forward."
The reason for that, she said is that "we share a common set of values along with a commitment to promoting free open-based order to both the security and prosperity and we also share opportunity to expand our economic relationship."
"Reaffirming our role as trusted partners to each other," Raimondo said, adding, "Creating jobs, in both of our countries, establishing more secured supply chains. We're excited to be doing that to pave the way for greater trade and investments between our two economies."
She said this was a moment of significant opportunity for both of our countries, and "we have some looks to the future".
"I am very encouraged by the progress that we are making, Minister Goyal and I will convene meeting tomorrow on Friday of the US- India Commercial Dialogue and the US India CEO forum,"Raimondo said, adding, "I'm thrilled to say that 10 US CEOs of leading U.S. companies travelled with me for the forum."
She also mentioned, "Boeing and Air India announced an order for 220 aircraft, which is a historic deal that reflects the strength of our economic relationship."
During the question and answer session, she said over semiconductor programme and the relations on the technology: "We both are focused on semiconductor tech. We are in a fortunate situation. Discussion we had were on providing transparency and coordinating semiconductor initiative. Working on a collaborative way. Opportunity for sharing information and transformation. We basically feel we can have greater benefit with implementation."
When Raimondo was asked about any hiccups in US-India collaboration on semiconductor supply chain and does the US see India as a balance for China in the semiconductor space, she said, "I don't see any hiccups. I don't foresee any hiccups in my meeting with Minister (Piyush) Goyal and private sector." Over the question of India as a balance for China, she also added, "This is about making the semiconductor supply chain more resilient, more diversified, and which is beneficial for both the United States and India and how we can work together to achieve that goal."
On a query over what key proposals will be brought to the table for Indo-US commercial dialogues and commercial projects, Raimondo said, "Our partnership with India is a consequential and commercial dialogue intended to work together supply chain, semiconductor, climate, health care and pharma as well on digital sector. We are not targeting any specific sector."
On enquiring about specific plan for collaboration in semiconductor or on specific semiconductor chain, she said, "No specific firm has an interest. In preparation of this visit, I spoke to dozens of CEOs and there is enthusiasm regarding India."
She added, "MoU will be how we share semiconductor collaboration in US and India. There will be an opportunity for a joint partnership. We are looking for near term opportunity. This is not one-year collaboration, it is a 20-year collaboration."
On a query on export control, Raimondo said, "We talked a lot about export control. Increasing transparency in our working relationship with India. I had a meeting with EAM (External Affairs Ministry) and we launched India-US strategic trade dialogue. We are focused on export control. We are going to deepen our engagement with India."
And lastly on Indo-Pacific Economic Framework (IPEF), she said, "You have to work hard to hit the goal and I'm confident we will hit the goal. I want to see economic benefits for us and other countries in the region this year."