India-US to Collaborate in Semiconductors

It also established a US-India working group to strengthen the US semiconductor supply chain against China. This approach will evaluate India's semiconductor manufacturing and usage capabilities, to serve as a stepping stone for upcoming bilateral interventions. It shows the importance on a global level of the semiconductor industry.

US — India Semiconductor Ecosystem & CHIPS ACT

• Semiconductors are the building blocks used in products such as cars, computers and medical devices.
• The US-India partnership is aimed at evaluating India's semiconductor industry, laws, workforce skills and infrastructure. 
• Signed by President Biden in August 2022, the CHIPS Act funded to augment US semiconductor production.
• International Technology Security and Innovation (ITSI) Fund — Stabilizes Semiconductor Supply Chains in line with TRUST Act
• Launched in 2021, India's Semiconductor Mission hopes to create a robust local industry.
• The partnership seeks to raise India's economy and secure global supply chains for essential technologies.