India, US Ink Pact To Set Up Semiconductor Supply Chain and Innovation Partnership

India and the United States have signed a memorandum of understanding (MoU) establishing semiconductor supply chain and innovation partnership under the framework of India–US Commercial Dialogue.

The MoU was signed by India's Commerce Minister Piyush Goyal and visiting US Commerce Secretary Gina Raimondo on Friday (10 March).

Raimondo is on a visit to New Delhi on the invitation of Goyal.

The 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 pact aims 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, according to a Commerce Ministry release on Friday (10 March)

During Raimondo's visit, the India-US Commercial Dialogue was also re-launched to discuss cooperation for unlocking new trade and investment opportunities between the two countries.