The President of the United States (US) Joe Biden has reaffirmed the US’ commitment to strengthen the semiconductor supply chain, with a special emphasis on collaborative efforts with key countries including India.

During his address at the Asia-Pacific Economic Cooperation CEO summit in San Francisco, President Biden stressed the importance of working together with India, Japan, the Republic of Korea, and Singapore to strengthen the critical semiconductor industry. He highlighted the launch of new initiatives aimed at shaping technologies and standards that will drive transformation in the semiconductor sector.

In March 2023, India and the US inked a memorandum of understanding on the semiconductor supply chain and innovation partnership during the India-US Commercial Dialogue, re-launched with a strategic outlook with a focus on supply chain resiliency and diversification and new emerging areas, after a gap of three years.