India, US sign MoU on semiconductor supply chain and innovation partnership
New Delhi/IBNS: India and US on Friday inked a Memorandum of Understanding (MoU) for establishing a semiconductor supply chain and innovation partnership, an official statement said.
The MoU was signed by Union Commerce & Industry Minister Piyush Goyal and US Secretary of Commerce Gina Raimondo under the India – US Commercial Dialogue framework following the Commercial Dialogue 2023 held in New Delhi.
The India-US Commercial Dialogue was re-launched today to discuss cooperation for unlocking new trade and investment opportunities between the two countries.
“The MoU seeks to establish a collaborative mechanism between the two governments on Semiconductor Supply chain resiliency and diversification in view of US’s CHIPS and Science Act and India’s Semiconductor Mission,” the Ministry of Commerce & Industry said.
It aims to leverage the complementary strengths of both countries and facilitate commercial opportunities and the development of semiconductor innovation ecosystems through discussions on various aspects of the semiconductor value chain, it said.
The MoU envisages mutually beneficial R&D, talent and skill development.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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