New Delhi, Mar 10 (KNN) India and the US have decided to jointly launch a strategic trade dialogue to address export controls, explore ways of enhancing high technology commerce, and facilitate technology transfers.

The decision to set up a trade forum was taken during a meeting between External Affairs Minister S Jaishankar and visiting US Commerce Secretary Gina Raimondo in New Delhi on Thursday.

"The external affairs minister and secretary Raimondo agreed to launch a India-US Strategic Trade Dialogue, led by Foreign Secretary from Ministry of External Affairs of India and Under Secretary, Bureau of Industry and Security in US Department of Commerce," MEA in an official statement said.

As per reports, Raimondo and her Indian counterpart Union Minister Piyush Goyal will co-chair the India-US commercial dialogue today after a gap of three years.

The primary aim of the commercial dialogue will be to discuss ways to drive trade and investment between the two countries.

The US commerce secretary will also ink an MoU with India on Semiconductors.

“The memorandum of understanding (MoU) to be signed by India and the US on cooperation in semiconductors will help the Indian side play a greater role in diversified supply chains and identify opportunities for joint ventures or technology partnerships,” she said.

Raimondo pointed out that India and the US are in a “fortunate situation” as both sides are beginning to implement separate incentive programmes for the semiconductor industry.  (KNN Bureau)