U.S. Secretary of Commerce: Memorandum of Understanding on Semiconductor Supply Chain and Innovation Partnership signed

U.S. Secretary of Commerce Gina Raimondo and Minister of Commerce and Industry Piyush Goyal signed a Memorandum of Understanding on Semiconductor Supply Chain and Innovation Partnership during the U.S.-India Commercial Dialogue.

Following the signing, Secretary Raimondo released the below statement.

“As the Commerce Department embarks on the implementation the CHIPS and Science Act, I’m proud to announce a Memorandum of Understanding (MOU) with Minister Goyal’s Ministry of Commerce and Industry on semiconductors and electronics supply chains.

“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 U.S. and India. 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.

“I look forward to continuing work with Minister Goyal and members of the semiconductor industry to advance the goals outlined in the MOU and identify further avenues of cooperation for our two nations in the area of semiconductor supply chains.”