The United States CHIPS & Science Act & India’s Semiconductor Mission in view. India and the United States will develop a collaboration framework between 2 govts on chip supply chain flexibility and diversification.
Using the complementary capabilities of both nations. The plan aims to promote business prospects and the growth of chip innovation ecosystems through conversations on key chip value chain components.
Piyush Goyal, The Union Minister of Commerce & Industry, & Gina Raimondo. The United States Secretary of Commerce, signed a MOU on behalf of the 2 nations to create partnerships in the Chip supply chain. And innovation under the auspices of the India-United States Commercial Dialogue.
The Memorandum of Understanding (MoU). Which calls for mutual benefit R&D, talent, & skill development in the field of chips, was sign on Mar-10 in New Delhi during the 5th Ministerial level meeting of the India-United States Commercial Dialogue.
The Commercial Forum is a cornerstone of ongoing initiatives to enhance the Comprehensive Global Cooperation Agreement between the United States and India, promote inclusive & fair – trade and investing policies. And harness the interests of private sector in exploring new market possibilities that enhance prosperity in both nations.
INDIA – UNITED STATES INKS SEMICONDUCTOR AGREEMENT
Following the meeting, both parties issued a joint statement in which. They expressed support for the recently launched India-United States initiative on ICET.
Which strengthens & broadens the joint venture in technology between our 2 countries govts, corporations, and academic institutions.
The Minister and the Secretary stated their intention to support ICET’s vision to establish a reliable technology value chain alliance between the nations & enable higher collaboration in ICET. Co-production & co-development & connectivity across both nations’ innovation ecosystems.
India and the United States confirmed their intention to hold a mid-year review before the end of 2023. To be chaired by senior govt officials from both countries.
And emphasised the significance of the Commercial Dialogue in maintaining momentum on shared economic priorities, according to a joint statement.
The statement read, “The mid-year review will enable each party to carry through the below priorities identified during the Commercial Dialogue. Adopting a plan based on the Minister’s & the Secretary’s economic vision. And maintaining robust private sector input to guide ongoing efforts.