The United States and India will sign a memorandum of understanding on semiconductors as the two countries discuss investment coordination and continue dialogue on policies to spur private investment, US Commerce Secretary Gina Raimondo said on Thursday.
Raimondo, who is on a four-day trip to India, is accompanied by CEOs of 10 US companies and is scheduled to meet India’s commerce minister on Friday.
The two countries will jointly map the semiconductor supply chain and identify opportunities for joint ventures and technology partnerships, Raimondo added.
India is trying to attract more big investments under a $10 billion stimulus plan for chip and display manufacturing to become a key player in the global supply chain.
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