The US and India will signal a memorandum of understanding on semiconductors as each nations focus on coordination of funding and proceed dialogue round insurance policies to spur personal funding, US Commerce Secretary Gina Raimondo stated on Thursday.
Gina Raimondo, who’s on a four-day journey to India, is accompanied by the chief govt officers of 10 US firms and is scheduled to fulfill India’s commerce minister on Friday.
The 2 nations will map the semiconductor provide chain collectively and determine alternatives for joint ventures and expertise partnerships, Raimondo added.
India has been in search of to draw extra big-ticket investments underneath a $10 billion incentive plan for chip and show manufacturing, aiming to change into a key participant within the international provide chain.
Final 12 months, the South Asian nation raised fiscal assist for brand new native semiconductor services to cowl 50% of venture prices.
(Apart from the headline, this story has not been edited by NDTV employees and is revealed from a syndicated feed.)
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