The US Commerce Secretary stated on March 10 that India has the chance to participate in the entire electronics supply chain, not only semiconductors.
Gina Raimondo told reporters in New Delhi that India’s intention to increase sophisticated manufacturing and its involvement in supply chains aligns with the US vision and purpose to strengthen our supply chain.
“There are opportunities throughout the entire electronics supply chain, not just semiconductors,” the speaker said. We also talked about green technologies and various pieces of technology used in the electrical supply chain today.
When the India-US Commercial Dialogue was relaunched to discuss collaboration for opening up new trade and investment opportunities between the two nations, the Indian and American commerce ministers spoke at a news conference.
In response to Piyush Goyal, the commerce minister, US Secretary of Commerce Gina Raimondo is in New Delhi.
On March 10, India and the US agreed to establish a partnership for innovation and the semiconductor supply chain as part of the India-US Commercial Dialogue.
In light of the US CHIPS and Science Act and India’s Semiconductor Mission, the India-US accord aims to create a collaboration mechanism between the two governments on semiconductor supply chain resiliency and diversification.
Through conversations on many parts of the semiconductor value chain, it intends to take advantage of the complementary strengths of both nations and encourage economic prospects and the growth of semiconductor innovation ecosystems.
According to a release, the Agreement envisions the development of talent and skills, as well as mutually beneficial research and development.
US investments will increase
According to Gina Raimondo, the US is making several announcements for US businesses making “quite large investments” in India. I believe the frequency of those announcements will grow, she continued.
The two main factors driving American firms’ interest in India are the need for a more resilient, diverse supply chain and recent actions that make India an appealing partner.
According to the US commerce secretary, completing the Indo-Pacific Economic Framework will encourage US corporations to conduct more business in India.
No disengagement from China
According to the US Secretary of Commerce, the US does not want to separate technologically from China.
“We enjoy trade dealings with China. Most of our trade with China is for good things, and we should keep doing that. We must safeguard ourselves, our friends, and our partners against China’s clear attempts to obtain access to American technology for use in its military, so this isn’t about decoupling. Rather, it’s about keeping our eyes peeled for those attempts.”
