sign on semiconductor project
US Commerce Secretary Gina Raimundo has said that the India-US MoU in semiconductors will help the Indian side play a bigger role in a diversified supply chain.
An agreement to be signed by India and the US on Cooperation in Semiconductors will enable the Indian side to play a bigger role in semiconductors in this chain and identify opportunities for joint technology sharing
Raimundo and Foreign Minister S. Jaishankar started a new initiative in the bilateral talks held in India and America on Thursday, in which an account was prepared regarding the export control system of both the countries, focused on them and the main issue of this bilateral talks is also here. was to focus on
Raimundo and his Indian counterpart Piyush Goyal will chair the India-US commerce dialogue on Friday after a gap of 3 years to drive trade and investment.
Raimundo told the media that he’s got some aspirations for India to play a bigger role in the electronic supply chain and he’d like to sign on for this semiconductor trip to India and he’ll help achieve that goal. also want to
American Raimundo said that India and the US are in a very fortunate position as both sides want to start by implementing different programs for the semiconductor industry and there is also transparency in the discussions between the two sides and their respective semiconductor companies. More Information Sharing Preventing Subsidies Proliferation of certain types of chips Jointly focused on mapping the supply chain and demand base of semiconductors
India has launched a production-linked incentive scheme for chips and the US has also recently launched its Chips and Science Act to help rebuild the turnaround for chips
To solve the problem of chips at their own level, both the countries are engaged in some manufacturing in their own country, instead of depending on each other, both have come earlier at a time when India and America are focusing on China for chips. We will share information about semiconductor commerce between our countries with others and how to discuss policies that will increase the impetus in the semiconductor ecosystem, he said.
The UN official said that supply chain mapping will help both countries to identify where and how opportunities for joint industry or technology partnerships and job testing and research and development partnerships can be found and also we can get closer also looking for short term commerce opportunities as well as long term strategy opportunities because we know we don’t have 1 year of cooperation we think that between the US semiconductor industry and the electronics supply chain and India At least 10 to 20 years of cooperation is necessary
Taking the series forward, the US official and the Indian official Jaishankar on Thursday launched the India-US Strategic Trade Dialogue at a meeting in which the US side will be led by the Bureau of Industry and Security under the Department of Commerce and Foreign Secretary To be led by the Indian side with a focus on export controls
This is an exciting arrangement as it is an official government to government arrangement where we will deepen our engagement with India as well as help build on our longstanding relationships especially our export control with each other. There will also be information to share and there will also be an area to share information and information with each other.
The Ministry of External Affairs said the dialogue will address export controls and explore ways to promote high technology commerce and facilitate plant construction between the two sides. Jaishankar and Raimundo stressed the need to promote bilateral strategic and high technology trade. It was agreed upon and efforts were made to deepen the economic framework in view of the shared priority of building flexible and reliable performing arts between the two countries
India is launching a nearly $12 billion stimulus plan for demonstration products with the aim of becoming a major player in the global supply chain. Last year itself, South Asia was earmarked for new local semiconductor facilities to cover 50%.