The MoU seeks to establish a collaborative mechanism between the two governments on semiconductor supply chain resiliency and diversification in view of the US CHIPS and Science Act and India's Semiconductor Mission.
U.S. Secretary of Commerce Gina Raimondo and Minister of Commerce and Industry Piyush Goyal signed a memorandum of understanding on semiconductor supply chain and innovation partnership during the U.S.-India Commercial Dialogue last March 10 in New Delhi.
The MoU seeks to establish a collaborative mechanism between the two governments on semiconductor supply chain resiliency and diversification in view of the United States’ CHIPS and Science Act and India’s Semiconductor Mission. It 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.
“As the Commerce Department embarks on the implementation the CHIPS and Science Act, I’m proud to announce a Memorandum of Understanding (MOU) with Minister Goyal’s Ministry of Commerce and Industry on semiconductors and electronics supply chains. As both of our great nations seek to create stronger and more secure supply chains, particularly in the field of semiconductors, this MOU will establish a collaborative mechanism between our two countries on semiconductor supply chain resiliency and diversification and will aim to create economic opportunity in the U.S. and India,” Secretary Raimondo said in a statement.
“This is a significant step in the coordination of both our countries’ semiconductor incentive programs and will strengthen mutual priorities, including promoting commercial opportunities, R&D, and talent and skill development. I look forward to continuing work with Minister Goyal and members of the semiconductor industry to advance the goals outlined in the MOU and identify further avenues of cooperation for our two nations in the area of semiconductor supply chains,” Secretary Raimondo added.