India and the US inked a pact to expand and diversify the critical minerals supply chain.
Union Minister of Commerce and Industry Piyush Goyal and U.S. Commerce Secretary Gina Raimondo participated in the 6th Commercial Dialogue.
India and the US signed a memorandum of understanding (MOU) to expand and diversify the critical minerals supply chain at a bilateral commercial dialogue.
Both sides also discussed semiconductor supply chains and collaboration in and with third countries.
The main aim of the MoU is to use the complementary strengths of both countries to ensure greater resilience in the critical minerals sector.
The focus will be identifying equipment, services, policies, and best practices to facilitate the mutually beneficial commercial development of U.S. and Indian critical minerals exploration.
In June 2023, India identified a set of 30 critical minerals for its national priorities.
India has also joined the Minerals Security Partnership.
