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US and India to sign MoU on semiconductors and pursue investment dialogue

Friday, 10 Mar 2023
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The United States (US) and India will sign a memorandum of understanding (MoU) on semiconductors even as both countries pursue the agenda of coordination of investments and progressive policies to spur private investment.

The US Commerce Secretary and the officials of 10 US companies are on an official visit to India to take the discussion forward with India's Trade Ministry.

India seeks to attract big-ticket investments under a 10 billion USD incentive plan to accelerate projects pertaining to chip and display production. Moreover, it will further the Indian government’s objective to position itself as a key player in the global supply chain.

In 2022, India raised fiscal support for new local semiconductor facilities, which helped to cover 50 percent of project costs.

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