AMN / WEB DESK
US President Joe Biden has reaffirmed the United States’ commitment to strengthen the semiconductor supply chain, with a special emphasis on collaborative efforts with key nations, including India.
Speaking at the Asia-Pacific Economic Cooperation CEO summit in San Francisco yesterday, 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 this year, India and the US inked a Memorandum of Understanding on the semiconductor supply chain and innovation partnership during the India-USA 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.
India is the ninth largest trading partner for the US, while the US is India’s largest trading partner and the largest export destination, according to a statement of the Ministry of Commerce and Industry.