The US Department of State has announced a collaboration with India’s Semiconductor Mission, under the Union Electronics and IT Ministry, to explore opportunities for expanding and diversifying the global semiconductor ecosystem. The partnership aims to create a more resilient, secure, and sustainable semiconductor value chain worldwide.
United States’ $500 million semiconductor fund
The initiative falls under US International Technology Security and Innovation (ITSI) fund, established by the Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act of 2022.
The Act was signed by President Joe Biden in August 2022, to boost domestic research and manufacturing of semiconductors in the US.
The initial phase of the partnership includes a detailed assessment of India’s semiconductor ecosystem, evaluating regulatory frameworks, workforce needs, and infrastructure.
