The U.S. Department of State will partner with the India Semiconductor Mission, part of the Ministry of Electronics and IT, to expand and diversify the global semiconductor ecosystem through the International Technology Security and Innovation (ITSI) Fund, established by the CHIPS Act of 2022.
This collaboration aims to enhance the resilience, security, and sustainability of the global semiconductor value chain. The initial phase of the partnership involves a detailed assessment of India's semiconductor sector, including its regulatory environment, workforce needs, and infrastructure requirements.
The evaluation will include input from key Indian stakeholders such as state governments, educational institutions, research centres, and private companies, guided by the India Semiconductor Mission.
The insights from this assessment will help shape future joint initiatives to bolster the semiconductor industry, benefiting both nations.
The United States and India are collaborating to ensure that the global semiconductor supply chain supports the ongoing digital transformation, crucial for manufacturing essential products like vehicles and medical devices.
The CHIPS Act, signed by President Biden in August 2022, allocated new funding to strengthen U.S. semiconductor manufacturing and research.
It also established the ITSI Fund, which provides $500 million ($100 million annually for five years, starting in Fiscal Year 2023) to support secure and trusted telecommunications technologies, semiconductor supply chain security, and other related initiatives with allies and partners.
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