WASHINGTON DC (ANI) – The State Department will collaborate with the India Semiconductor Mission and India’s Ministry of Electronics and IT under the International Technology Security and Innovation (ITSI) Fund, created by the CHIPS Act of 2022 that was enacted by President Joe Biden. This partnership aims to enhance the global semiconductor ecosystem by fostering a more resilient and secure supply chain.

Kurt Campbell, Deputy Secretary of State, emphasized the strategic significance of expanding U.S.-India relations, highlighting that the partnership is a key effort of the Biden-Harris administration. He noted that the alignment between the two nations has never been stronger and that their joint initiatives, such as INDUS-X, are crucial to the U.S.-India Initiative on Critical and Emerging Technology.

Campbell described INDUS-X as a cornerstone of ICET, focusing on areas such as semiconductors, advanced telecommunications, artificial intelligence, quantum biotechnology, and clean energy. He stressed that deepening defense innovation cooperation is vital for maintaining a critical advantage for both countries’ armed forces.

Under INDUS-X, the U.S. and India have announced $1.2 million in seed funding for ten companies, with plans for additional challenges and the formation of an INDUS-X testing consortium. The partnership aims to assess India’s semiconductor ecosystem, including regulatory frameworks and infrastructure needs, to drive future joint initiatives.

This collaboration reflects the significant investment by the U.S. to strengthen its strategic partnership with India and enhance both nations’ technological capabilities. The ITSI Fund, established by the CHIPS Act, supports these efforts by providing $500 million over five years to promote secure and trusted technologies and supply chains.