US and India Team Up to Strengthen Global Semiconductor Industry
The US Department of State is partnering with the India Semiconductor Mission of the Union Electronics and IT Ministry to explore opportunities for growing and diversifying the global semiconductor ecosystem. This initiative is supported by the International Technology Security and Innovation (ITSI) Fund, created by the CHIPS Act of 2022.
Goals of the Partnership
This collaboration aims to create a more resilient, secure, and sustainable global semiconductor value chain. US Deputy Assistant Secretary of State for Trade Policy and Negotiations, J Robert Garverick, emphasized the importance of this partnership in promoting a secure global semiconductor supply chain and telecommunications networks.
Initial Phase
The initial phase involves a comprehensive assessment of India’s existing semiconductor ecosystem, including its regulatory framework, workforce, and infrastructure needs. Insights from this review will guide potential joint initiatives to strengthen this critical sector.
Key Participants
Key Indian stakeholders, including state governments, educational institutions, research centers, and private companies, will participate in this analysis, led by the India Semiconductor Mission. Akash Tripathi, CEO of the India Semiconductor Mission, announced that they will conduct a study with the US to access the ITSI Fund and further boost India’s semiconductor ecosystem.
Background
In August 2022, US President Joe Biden signed the CHIPS Act, which allocated new funding to boost domestic manufacturing and research of semiconductors in the United States. The ITSI Fund, created by this act, provides USD 500 million over five years to promote secure semiconductor supply chains and other initiatives with US allies and partners.
Doubts Revealed
US Department of State -: The US Department of State is a part of the United States government that deals with foreign affairs and relationships with other countries.
India’s Semiconductor Mission -: India’s Semiconductor Mission is a special program by the Indian government to develop and grow the semiconductor industry in India.
semiconductor -: A semiconductor is a material used to make electronic devices like computers and smartphones work. They are very important for modern technology.
ITSI Fund -: The ITSI Fund is a special fund created to support the semiconductor industry. It stands for International Technology and Semiconductor Initiative.
CHIPS Act of 2022 -: The CHIPS Act of 2022 is a law in the United States that provides money and support to help the semiconductor industry grow and become stronger.
secure and sustainable supply chain -: A secure and sustainable supply chain means having a reliable and long-lasting way to get all the parts and materials needed to make semiconductors without running into problems.
stakeholders -: Stakeholders are people or groups who have an interest or concern in something. In this case, they are people involved in the semiconductor industry.
comprehensive study -: A comprehensive study is a detailed and complete investigation to understand something fully. Here, it means looking closely at the semiconductor industry to find out what is needed.
