India and US to work together in semiconductor sector
India’s importance in the global economy is being continuously noted today. That is why the US State Department agreed to support India in this unique task. After gaining US support, India can become an important part of the global supply chain in this particular industry. Currently, China dominates this segment.
In fact, the US State Department has talked about expanding cooperation and partnership with India to diversify the global semiconductor ecosystem. This will reduce the dependence of the global semiconductor supply chain on China.
India and the United States will work like this
At the start of this partnership, the semiconductor ecosystem and the existing regulatory framework in India will be analyzed. In this work, the United States will help assess the semiconductor infrastructure and workforce needs in India. In addition, attention will also be paid to strengthening them.
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On behalf of the US State Department, the agency said in its news release that both countries will benefit from the Semiconductor Mission under and in partnership with the Ministry of Electronics and IT of the Government of India. This partnership also underlines India’s semiconductor development potential.
Currently, China dominates globally in semiconductor manufacturing. During Covid, when the situation in China was bad, the entire world was facing the semiconductor shortage crisis. In such a situation, most of the world’s major countries have started working to reduce their dependence on China for semiconductors.
India has made a great plan
To meet future needs and reduce its own dependence on China, India is working rapidly towards developing the domestic semiconductor industry. The government has also initiated an incentive scheme to increase private investment in this sector. This scheme has been named PLI Scheme.
Taiwan’s leading semiconductor manufacturer is also planning to invest in India. Tata Group is also working on two semiconductor projects in the country. So far, a total of 3 projects have been approved in the country under the government’s PLI scheme.
