Mon Sep 09 16:03:25 UTC 2024: ## US and India Partner to Strengthen Global Semiconductor Ecosystem
**Washington D.C., [Date]** – The United States and India are joining forces to bolster the global semiconductor ecosystem, aiming to create a more resilient, secure, and sustainable value chain. The partnership, announced by the US State Department, will be facilitated through the International Technology Security and Innovation (ITSI) Fund, established under the CHIPS Act of 2022.
The initial phase of this collaboration will involve a comprehensive assessment of India’s current semiconductor landscape, including its regulatory framework, workforce needs, and infrastructure. This analysis will be led by the India Semiconductor Mission, with participation from key Indian stakeholders such as state governments, educational institutions, research centers, and private companies.
The insights gained from this assessment will serve as the foundation for future joint initiatives aimed at strengthening and growing the semiconductor sector.
“The US and India are key partners in ensuring the global semiconductor supply chain keeps pace with the global digital transformation currently underway,” the US State Department stated. This collaboration underscores the potential to expand India’s semiconductor industry, benefiting both nations.
The strength and resilience of the semiconductor supply chain is crucial for the production of essential goods ranging from vehicles to medical devices. The CHIPS Act, signed by President Joe Biden in August 2022, allocated funding to bolster domestic semiconductor manufacturing and research within the US. The ITSI Fund, established under the CHIPS Act, provides the US State Department with $500 million over five years to promote secure and trusted telecommunications technologies, secure semiconductor supply chains, and other collaborative initiatives with US allies and partners.
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