India, US sign MoU on semiconductor supply chain

India and the US on Friday (March 10) signed a MoU on semiconductor supply chain and innovation partnership.

The US secretary of commerce, Gina Raimondo, visited Delhi from March 7 to 10 on the invitation of commerce and industry minister Piyush Goyal.

During this visit, the India-US Commercial Dialogue was re-launched to discuss cooperation for unlocking new trade and investment opportunities between the two countries, the Indian commerce ministry said.

“During the Dialogue, a MoU on establishing semiconductor supply chain and innovation partnership under the framework of India-US Commercial Dialogue was signed between India and US,” it said.

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The MoU

The MoU seeks to establish a collaborative mechanism between the two governments on semiconductor supply chain resiliency and diversification in view of the US’s CHIPS and Science Act and India’s Semiconductor Mission.

It aims to leverage complementary strengths of both countries and facilitate commercial opportunities and development of semiconductor innovation ecosystems through discussions on various aspects of the semiconductor value chain.

In addition, the MoU envisages mutually beneficial R&D, talent and skill development, the ministry added.

(With agency inputs)