India and US have signed an MoU with the objective of connecting both the countries' dynamic startup ecosystems, particularly in critical and emerging technologies (CET). The understanding named 'Enhancing Innovation Ecosystems through an Innovation Handshake' was signed by Commerce Minister Piyush Goyal from the Indian side, who is on a 4-day US visit. In a social media post, Mr Goyal said the MoU is poised to positively impact economic activity, attract investment, and generate employment. Mr Goyal also held a bilateral meeting with his US counterpart Gina Raimondo on the sidelines of the IPEF Ministerial Meeting and discussed the growing India-US commercial cooperation and business engagement.
During his ongoing visit, India joined the United States and 12 other Indo-Pacific Economic Framework for Prosperity (IPEF) partners to ink the IPEF supply chain resilience agreement. Mr Goyal said it will "fortify and strengthen" global supply chains. India and the US are among the 14 supply chain resilience partners of IPEF.