India, US to sign memorandum of understanding on semiconductors: On March 9, US Commerce Secretary Gina Raimondo announced that the US and India will sign a memorandum of understanding regarding semiconductors, as both countries discuss investment coordination and policies aimed at promoting private investment. Raimondo, who is leading a delegation of ten US company CEOs, is currently on a four-day trip to India and is set to meet with India’s trade minister on Friday.
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India, US ink MoU on semiconductor supply chain, innovation partnership
- The U.S. and India plan to sign an MoU on semiconductors, while exploring investment coordination and policies to boost private investment, according to U.S. Commerce Secretary Gina Raimondo during her visit to India.
- Raimondo, who is leading a delegation of 10 CEOs, is set to meet with India’s trade minister on Friday to discuss the MoU and other initiatives.
- The partnership will involve mapping the semiconductor supply chain and identifying potential opportunities for joint ventures and technology collaborations.
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- India’s $10 billion incentive plan for chip and display production has been designed to attract more significant investments to bolster its position in the global supply chain.
- Last year, the Indian government increased fiscal support for local semiconductor facilities to cover half of the project costs.
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