US, India partners to develop Semiconductor supply chain & telecommunications network opportunities – The Economic Times Video

US Deputy Assistant Secretary Robert Garverick of the Bureau of Economic and Business Affairs says, “…The Department of State is partnering with the Government of India to explore opportunities for growth and diversification of the global semiconductor ecosystem under the International Technology Innovation and Security (ITSI) Facility. President Biden signed the CHIPS Act in the United States two years ago, establishing the ITSI Facility to promote the development of a secure global semiconductor supply chain and telecommunications networks. In the initial phase, India will work with partners to conduct a comprehensive review of its existing semiconductor ecosystem, focusing on assembly, testing, and packaging, or what we call ATP… Insights gained from this review will inform potential joint initiatives to strengthen this critical sector. The United States and India are key partners in ensuring that the global semiconductor supply chain keeps pace with the ongoing global digital transformation. Our cooperation underscores the potential to expand the Indian semiconductor industry to benefit both nations and much of the rest of the world.” Our global partnership will extend to supply chain logistics. “It’s really about aligning technological ambitions with shared democratic values ​​and ensuring that the benefits of digital transformation are shared broadly and equitably…”