India And US To Sign MoU On Semiconductor Sector US Commerce Secretary has said that several US companies in the electronics and semiconductor segment have a 'strong' desire to diversify their supply chain and be more resilient

By Teena Jose

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US Commerce Secretary Gina Raimondo on Thursday said she will sign an MoU on the semiconductor sector with India to promote cooperation in the segment as it holds huge opportunities, according to a PTI report.

"We talked about how we will share information about semiconductors, about semiconductor commercial opportunities between our two countries, and how to have a continuous dialogue around policies that would encourage private investment in the semiconductor ecosystem," the US commerce secretary said in a statement.

She also said that several US companies in the electronics and semiconductor segment have a 'strong' desire to diversify their supply chain and be more resilient and added that talks include figuring out opportunities, if there are any, for joint ventures or technology partnerships between the two countries.

In her words, "So, we are looking for near-term opportunities and also looking for longer-term strategic opportunities. Both countries would like to play a larger role in the electronic supply chain and to that. The MoU that I will be signing on this trip around semiconductor is designed to help achieve that goal."

She further noted that both the countries are implementing a semiconductor incentive programme and that how the two sides can coordinate those investments, which is in the interest of India and the US. Both sides have discussed issues like providing transparency in their incentives, coordinating and collaborating on ways to administer their semiconductor initiative as huge opportunities are there.

Talking about commercial dialogue, which will take place tomorrow, she said it is intended to work together around supply chain, semiconductors, climate and clean technology, energy and healthcare and pharma as well as the digital sector, according to the report.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.

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