Commerce and Industry Minister Mr. Piyush Goyal met with the CEO of Micron and YouTube
- IBEF
- November 17, 2023
Union Minister for Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Mr. Piyush Goyal, interacted with the CEO of Micron Technology, Mr. Sanjay Mehrotra and the CEO of YouTube, Mr. Neal Mohan to discuss how India presents tremendous prospects for the corporations and to extend their footprint in India.
During his current visit to the United States, Mr. Goyal spoke with Silicon Valley entrepreneurs and venture capitalists, emphasizing how India's young talent, thriving business ecosystem, and developing economy present an ideal investment opportunity. The minister is attending the Indo-Pacific Economic Framework (IPEF) summit in San Francisco.
In June 2023, the government approved Micron's US$ 2.7 billion plans to establish a semiconductor test and packaging facility in the country. Micron is establishing its first chip manufacturing facility in Gujarat, India.
The minister also participated in a roundtable discussion with prominent academicians at Stanford University, where he highlighted the numerous opportunities for collaboration with India's higher education institutions to foster a vibrant exchange of knowledge, research, and innovative solutions to key global issues.
In another discussion with Chartered Accountants from the San Francisco Chapter of ICAI, Mr. Goyal discussed how the CA fraternity, with their skillset and network, can help improve the India-US economic partnership.
India, the United States, and 12 other IPEF members inked a supply chain resilience agreement aimed at reducing reliance on China while transferring the production of important sectors and key items to member nations.
India and the United States have signed a memorandum of understanding to foster innovation by enhancing startup collaboration, resolving regulatory barriers, and sharing best practices in entrepreneur fundraising.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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