The documents were signed in New Delhi. The meeting and the entire negotiation process is driven by a severe shortage of semiconductors with serious consequences, especially disruptions to the supply of automobiles and electronics, especially after the outbreak of COVID-19.
In addition, the dialogue created a subcommittee specializing in semiconductors, chaired by the US Department of Commerce and two Indian agencies – the Department of Electronics and Information Technology and the Department of Commerce and Industry. The first meeting of the subcommittee should be held before the end of 2023.
“Recognizing the importance of the US and Indian markets for the global electronics industry, Raimondo and Goyal plan to use commercial dialogue to intensify public and private sector efforts to enhance industry collaboration in the semiconductor sector. These efforts will enable the US and Indian semiconductor industries to create stronger ties, complementary ecosystems. “It will identify the growth opportunities and challenges that need to be addressed to enable it to create a more diverse supply chain for energy and semiconductors.”
Source: Ferra
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