September 9 :
Under the International Technology Security and Innovation (ITSI) Fund, established by the CHIPS Act of 2022, the US Department of State is collaborating with the India Semiconductor Mission of the Union Electronics and IT Ministry to investigate potential avenues for expanding and diversifying the worldwide semiconductor architecture.
A stronger, safer, and more environmentally friendly worldwide semiconductor value chain is the goal of our collaboration.
During his speech, J. Robert Garverick, US Deputy Assistant Secretary of State for Trade Policy and Negotiations from the Bureau of Economic and Business Affairs (EB), announced a partnership between the US Department of State and the Government of India to investigate potential avenues for expanding and diversifying the worldwide semiconductor ecosystem through the International Technology Security and Innovation Fund. To encourage the establishment of a safe worldwide supply chain for semiconductors and communication networks, US President Biden established the ITSI Fund two years ago when he signed the CHIPS Act.
In the first stage, we will analyze the current semiconductor ecosystem, regulatory environment, workforce, and infrastructural requirements in India.
"The findings of this review will lay the groundwork for future collaborative efforts to bolster this vital industry," he added. To guarantee that the worldwide supply of semiconductors can keep up with the continuing digital revolution, the United States and India are important allies. Together, our countries and the rest of the globe have a better chance of realizing the semiconductor industry's full potential in India. Logistical support for supply chains will be a part of our worldwide collaboration.
The US Department of State expects the India Semiconductor Mission to lead this review, which will involve important Indian stakeholders such as state governments, educational institutions, research centers, and commercial firms.
According to Akash Tripathi, CEO of the India Semiconductor Mission (ISM), "We are announcing that we will be engaging in and conducting a study with them to access the ITSI Fund" in an effort to further the country's existing connection with the United States. In order to identify the opportunities and threats facing India's semiconductor industry, the United States must first perform an ecosystem assessment. It is our pleasure to work with them as a research facilitator for this study. In order to gain access to the ITSI Fund and enhance our semiconductor ecosystem overall, we plan to finish the study in the next few months.
The CHIPS Act, which increased financing for American semiconductor research and production, was signed into law by President Joe Biden of the United States in August 2022.
Additionally, the CHIPS Act established the ITSI Fund, which allocates USD 500 million to the US Department of State (USD 100 million annually for five years, beginning in Fiscal Year 2023). This money will be used to support programs and initiatives that aim to secure semiconductor supply chains, advance trustworthy telecommunications technology, and work with US allies and partners.
