US Commerce Secretary Gina Raimondo on Friday said the US would like to see India achieve its aspirations to play a larger role in the electronic supply chain. During the opening remark of a joint press conference in New Delhi, Raimondo said,"The memorandum of understanding (MoU) that we signed is designed to help achieve that goal."
The US Commerce Secretary said that the US had already begun with action and the MoU was tasking both the Indian and American semiconductor industries to prepare an assessment of where they have gaps and the lack of resiliency in the supply chain and that will guide their work.
"We are absolutely thrilled to be working with India as part of the Indo-Pacific economic framework (IPEF). Through IPEF, the United States, India and a dozen other partners are developing policies to create more resilient and secure supply chains, accelerate progress, green transitions and demonstrate our commitment to fostering a better business environment," she said.
The US Commerce Secretary said that India's desire to expand advanced manufacturing and its presence in the supply chain is totally aligned with the United States.
"We had a fantastic meeting with my team and his team this morning during the US-India Commercial Dialogue and importantly, we are committed to making sure that out of this dialogue will be a concrete, actionable, steady drumbeat of deliverables for both of our economies," she said.
Raimondo said, "I have come with CEOs of top US companies and we look forward to hearing from the private sector and their recommendations, which are also specific and action-oriented around how the US and India can expand our commercial ties and create more economic opportunity and create good paying jobs in both of our countries."
Raimondo said that this was an optimistic time for the US-India relationship and she was so honoured to be here in Delhi.
"I want to be very clear that our partnership with India is one of our most consequential and as strong as it is today. I believe we're entering into a period of increasing strength and closeness between the US and India," Raimondo said, adding, "Our relationship is founded on a strong foundation of a common set of values, grounded in our democratic traditions, along with a commitment to promoting a free open rules-based order and that is something that has bound us together for decades and will continue to underpin this relationship for decades to come."
She added, "Laid upon that foundation is a moment now of several combining forces, where there is a real opportunity for both of our countries to work together an opportunity for us to expand our economic relationship. I reaffirm our role as trusted partners, creating jobs in both of our countries and establishing more resilient and secure supply chains."
( With inputs from ANI )
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