India, US keen to expand global semicon supply chain: Goyal

New Delhi: India and the US are working together towards becoming self-reliant in critical minerals, strengthening supply chains and adopting cutting-edge technologies, the government has informed.

Union Commerce and Industry Minister Piyush Goyal said that India and the US share one of the most strategic and consequential relationship with shared interests in bilateral and geopolitical issues.

Both the countries have taken a huge step towards expanding the global semiconductor supply chain. The US Department of State will collaborate with the India Semiconductor Mission (ISM), under the Ministry of Electronics and IT, to explore ways to grow and diversify the semiconductor ecosystem.

This initiative will be supported by the International Technology Security and Innovation (ITSI) fund, which was established through the CHIPS Act of 2022.

Delivering the keynote address at the US-India Business Council’s (USIBC) 49th annual general meeting in the national capital, the minister also emphasised the need for global coalition against terrorism.

While paying homage to the victims of 9/11 attack on World Trade Center in New York, Minister Goyal said the attack reminds the world of dangers posed by terrorism.