The United States will study India’s semiconductor ecosystem and regulatory framework, as well as workforce and infrastructure needs, with a view to establishing a partnership to explore opportunities in India’s semiconductor supply chain.
The US State Department, under the International Technology Security and Innovation (ITSI) Fund, announced that it has partnered with the India Semiconductor Mission to explore opportunities for growth and diversification of the global semiconductor ecosystem. The partnership will help build a more resilient, secure, and sustainable global semiconductor value chain, the State Department said in a press release.
The Department of State expects key Indian stakeholders, including state governments, educational institutions, research centers, and private companies, to participate in this analysis, which will be led by the India Semiconductor Mission. Insights gained from the assessment will serve as the basis for future collaborative initiatives to strengthen and grow this critical sector.
The United States and India are key partners in ensuring the global semiconductor supply chain keeps up with the ongoing global digital transformation. Manufacturing of critical products ranging from automobiles to medical devices depends on the strength and resilience of the semiconductor supply chain. This collaboration between the United States and India highlights the potential to expand India’s semiconductor industry in a way that benefits both countries.
In August 2022, President Joe Biden signed the CHIPS Act, a U.S. law that allocates new funding to boost semiconductor manufacturing and research in the U.S. The CHIPS Act also created the ITSI Fund, which provides $500 million over five years to the Department of State to promote the development and deployment of secure and reliable communications technologies and a secure semiconductor supply chain.
Please send your comments and feedback to editorial@rttnews.com.
Business News
