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Semiconductor Production in India: India is heavily dependent on China for semiconductors. However, continuous work is going on to increase its production in India as well. US Commerce Secretary Gina Raimondo said on Thursday that she will sign a memorandum of understanding (MOU) with India to promote cooperation in the semiconductor sector. There is a lot of potential in this field in India. Many US companies have a ‘strong’ desire to diversify and be more flexible in supply chains in electronics and semiconductor parts. Both countries are implementing a semiconductor incentive program, and we discussed how the two sides can synergize these in the interests of India and the United States.
US Commerce Minister gave information
The US Commerce Secretary told reporters how we can share information on semiconductors and we talked about semiconductor commercial opportunities between the two countries. We discussed continuing dialogue on policies that can encourage private investment in the semiconductor ecosystem. The talks also include exploring opportunities for joint ventures or IT partnerships between the two countries. We are looking for near term as well as long term strategic opportunities. Both the countries have to play a bigger role in the electronic supply chain and for this the MoU on semiconductors that I will be signing during this visit will help in achieving this goal.
Both countries are in favor of bringing transparency in work
He said the two sides discussed issues such as bringing transparency in their incentives, coordinating and cooperating on ways to conduct their semiconductor initiatives. He said that there is a lot of potential in this field. “If we cooperate in the implementation of our stimulus programs, we can get better returns,” Raimondo said. He is here for the India-US Commercial Dialogue and the India-US CEO Forum meeting on March 10. Have come
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