Mon Sep 09 15:13:39 UTC 2024: ## US and India Team Up to Tackle Global Chip Shortage
**Washington, D.C. -** The United States and India have announced a joint initiative aimed at addressing the global semiconductor chip shortage. The partnership, unveiled on Monday, will leverage the US’s CHIPS Act funding and India’s growing semiconductor industry to manufacture chips for the benefit of both nations.
The collaboration will fall under the International Technology Security and Innovation (ITSI) fund, a $500 million initiative established by the CHIPS Act. India’s Semiconductor Mission, Ministry of Electronics and IT will work alongside US counterparts to assess India’s existing semiconductor production capabilities and identify areas for expansion, including workforce development and infrastructure improvements.
“Our cooperation underscores the potential to expand the Indian semiconductor industry to benefit both nations and much of the rest of the world,” said J Robert Garverick, US Deputy Assistant Secretary of State for Trade Policy and Negotiations. “Our global partnership will extend to supply chain logistics.”
This collaboration is seen as crucial in ensuring a robust and resilient global semiconductor supply chain, vital for the production of everything from automobiles to medical devices. The US and India recognize the critical role that semiconductors play in driving the global digital transformation.
The first phase of the partnership will involve a comprehensive assessment of India’s existing semiconductor ecosystem. Both nations are optimistic about India’s potential to become a major player in the global semiconductor manufacturing landscape.
First Piper 