MoU to establish a collaborative mechanism on Semiconductor Supply chain resiliency and diversification
A Memorandum of Understanding (MoU) on establishing semiconductor supply chain and innovation partnership under the framework of India – US Commercial Dialogue was signed between the two countries following the Commercial Dialogue 2023 held in New Delhi Delhi on Friday.
On the invitation of Mr. Piyush Goyal, Union Minister of Commerce and Industry, the US Secretary of Commerce, Ms Gina Raimondo is on a visit to New Delhi. During this visit, the India-US Commercial Dialogue was re-launched today to discuss cooperation for unlocking new trade and investment opportunities between the two countries.
Global unfortunate events such as COVID-19 and the Russia-Ukraine war, have disrupted the supply chains, causing a shortage of semiconductors and reiterating the importance of them.
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The MoU between India & the US 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.
India Semiconductor Mission (ISM) has been setup as an Independent Business Division within Digital India Corporation. ISM has all the administrative and financial powers and is tasked with the responsibility of catalysing the India Semiconductor ecosystem in manufacturing, packaging and design.
The MoU signed 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.
The MoU signed 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.
Last year in September, India unit of Mitsubishi Electric, arguably a pioneer of semiconductor technology, has signed an MoU with IIT Madras Research Park for R&D support of power semiconductor solutions.
Prior to this, in August last year, India Electronics and Semiconductor Association (IESA) launched the 1st chapter of the Electronics and Semiconductors Startup Summit in Bengaluru in order to bring innovators, successful entrepreneurs, investors and government agencies on a single platform to promote and strengthen the electronics and semiconductors startup world.
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