The partnership will utilize the US CHIPS Act's ITSI Fund, allocating $100 million annually until 2027, to enhance semiconductor supply chains and reduce dependency on China.
This cooperation aims to assess India's current semiconductor ecosystem, gathering insights from stakeholders, including state governments and private companies, for informed infrastructure development.
India's inclusion reflects its strategic intent to grow the semiconductor industry, leveraging its vast talent pool, and aligns with its longstanding Made in India initiative to boost tech manufacturing.
As highlighted by the State Department, this collaboration seeks not only to bolster India's semiconductor market but also to create mutual benefits for both the United States and India.
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