India and the US have agreed to closer engagement and cooperation on supply chain, semiconductors and critical minerals, according to a ‘fact sheet’ issued by the US and India on Tuesday, following the meeting of US National Security Adviser, Jake Sullivan and his Indian counterpart, Ajit Doval.
“Celebrating the conclusion of a joint Semiconductor Readiness Assessment through a partnership between the US Semiconductor Industry Association and the India Electronics Semiconductor Association, which identifies near-term industry opportunities and facilitates longer-term strategic development of complementary semiconductor ecosystems," the fact sheet said.
US and India also aimed to work together to ensure a reliable supply of critical minerals, which are essential for clean energy technologies and other important industries.
"Promoting India's vital role in the Mineral Security Partnership, including through co-investing in a lithium resource project in South America and a rare earth deposit in Africa, to responsibly and sustainably diversify critical mineral supply chains," read the fact sheet.
This engagement with Indian and US investors in the semiconductor industry in India aims to continue building India's robust semiconductor and information communication technology ecosystem.
Notably, India in March approved three semiconductor plant proposals, aiming to bolster India's semiconductor manufacturing ecosystem
Tata Electronics and Taiwan's Powerchip Semiconductor Manufacturing Corp. (PSMC) will establish India's first semiconductor fabrication plant (fab) in Dholera, Gujarat. Tata Semiconductor Assembly and Test Pvt Ltd (TSAT) will set up a semiconductor unit in Morigaon, Assam. CG Power, in partnership with Renesas Electronics Corp., Japan, and Stars Microelectronics, Thailand, will establish a semiconductor unit in Sanand, Gujarat.
