US, India partners to develop Semiconductor supply chain & telecommunications network opportunities
US Deputy Assistant Secretary Robert Garverick from the Bureau of Economic and Business Affairs says, “…The Department of State is partnering with the Government of India to explore opportunities to grow and diversify the global semiconductor ecosystem under the International Technology Security and Innovation Fund (ITSI). President Biden signed the CHIPS Act in the US two years ago, establishing the ITSI Fund to promote the development of a secure global semiconductor supply chain and telecommunications networks. In the initial phase, India will work with partners towards a comprehensive review of its existing semiconductor ecosystem, focusing on assembly, testing, and packaging, or what we call ATP…The insights gained from this review will serve as the basis for potential joint initiatives to strengthen this critical sector. The US and India are key partners in ensuring that the global semiconductor supply chain keeps pace with the ongoing global digital transformation. Our cooperation underscores the potential to expand the Indian semiconductor industry to benefit both nations and much of the rest of the world. Our global partnership will extend to supply chain logistics. It’s really about aligning technological ambitions with shared democratic values and ensuring that the benefits of digital transformation are widely and equitably shared…”