US commerce secretary Gina Raimondo on Friday said India can become a part of the entire electronics supply chain and not only semiconductors and said that India’s supply chain goals align with those of the United States.
“India’s desire to expand advanced manufacturing and its presence in the supply chains is totally aligned with the United States’ desire and goal to make our supply chain more resilient,” Gina Raimondo was quoted as saying by Moneycontrol.
The Moneycontrol report said that the US commerce secretary following her meeting with counterpart Union minister Piyush Goyal said there are opportunities in the electronics supply chain for India and it is not simply limited to semiconductors.
She said that during her meeting with Piyush Goyal both ministers discussed green technologies as well as all kinds of hardware that require the electronic supply chain.
Both ministers on Saturday also discussed new ways of enhancing the cooperation between India and the United States and unlocking new trade and investment opportunities between both countries.
Gina Raimondo was in New Delhi for a three-day visit at the invitation of Commerce Minister Piyush Goyal.
During her visit a pact between India and the US was signed which established a semiconductor supply chain and innovation partnership under the framework of India – US Commercial Dialogue, according to Moneycontrol.
This pact establishes a collaborative mechanism between the Indian and the US government with respect to development of semiconductor supply chain resiliency and diversification following the passage of the US CHIPS and Science Act and the launching of India’s Semiconductor Mission.
“As both of our great nations seek to create stronger and more secure supply chains, particularly in the field of semiconductors, this MOU will establish a collaborative mechanism between our two countries on semiconductor supply chain resiliency and diversification and will aim to create economic opportunity in the US and India,’ a statement released by Raimondo’s office said.
This is a significant step in the coordination of both our countries’ semiconductor incentive programs and will strengthen mutual priorities, including promoting commercial opportunities, R&D, and talent and skill development,” the readout from the US Commerce Department said.
Raimondo and Goyal also discussed how to facilitate collaboration between small and medium sized industries in both countries as well during their meeting.
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