India, US Ink Historic MoU To Establish Semiconductor Supply Chain And Explore Innovation

India and the US on Friday announced a Memorandum of Understanding (MoU) to establish semiconductor supply chain and innovation partnership under the framework of India – US Commercial Dialogue.

The two countries signed the MoU following the Commercial Dialogue 2023 held in New Delhi. This 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 scope of MoU extends to leverage complementary strengths of both countries and facilitate commercial opportunities and development of semiconductor innovation ecosystems through discussions on various aspects of semiconductor value chain.

The MoU envisages mutually beneficial R&D, talent and skill development as well.

The India-US Commercial Dialogue was re-launched on Friday during US Secretary of Commerce, Gina Raimondo’s visit, to discuss cooperation for unlocking new trade and investment opportunities between the two countries.