A memorandum of understanding (MoU) on semiconductor supply chain and innovation partnership was signed by India and the US on Friday during the Commercial Dialogue 2023.
In light of the US CHIPS and Science Act and India's Semiconductor Mission, the Agreement aims to create a collaboration mechanism between the two governments on supply chain resiliency and diversity for semiconductors.
Through conversations on many parts of the semiconductor value chain, it intends to take advantage of the complementary strengths of both countries and encourage economic opportunities and the growth of semiconductor innovation ecosystems.
The Agreement also outlines mutually advantageous R&D, talent, and skill development.