June 23, 2024 22:59 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Shooting at a grocery store in USA leaves three people dead, 10 hurt | Sheikh Hasina, Narendra Modi engage in bilateral talks | As Chandrababu Naidu's new govt demolishes YSRCP office citing illegality, Jagan Reddy cries 'vendetta politics' | Centre notifies stringent anti-paper leak law amid exam mess, accused to face jail term, fine up to a crore | Maharashtra Congress chief Nana Patole alleges cracks on Atal Setu, BJP hits back
Cabinet approves Memorandum of Cooperation between India and Japan on Japan-India Semiconductor Supply Chain Partnership
Photo Courtesy: Unsplash/Pixabay

Cabinet approves Memorandum of Cooperation between India and Japan on Japan-India Semiconductor Supply Chain Partnership

| @indiablooms | 25 Oct 2023, 08:48 pm

New Delhi: The Union Cabinet, headed by Prime Minister Narendra Modi, was briefed about a Memorandum of Cooperation (MoC) inked in July 2023 between India's Ministry of Electronics and Information Technology (MeitY) and Japan's Ministry of Economy, Trade and Industry (METI) regarding a partnership in the semiconductor supply chain between the two nations.

The MoC aims to bolster collaboration between India and Japan in fortifying the semiconductor supply chain, acknowledging the critical role of semiconductors in advancing industries and digital technologies, stated the Cabinet in an official release.

This MoC will be operational from the date of signing and remain in effect for five years.

In India, MeitY has been proactively engaged in establishing a favorable ecosystem for electronic manufacturing.

It introduced a program dedicated to fostering the growth of semiconductor and display manufacturing in the country, with the aim of ensuring the emergence of a resilient and sustainable semiconductor and display ecosystem within India, noted the Cabinet.

MeitY has been actively working to create a conducive environment for electronics manufacturing.

Programme for the Development of Semiconductor and Display Manufacturing Ecosystem in India was introduced with a view to ensure the development of a robust and sustainable semiconductor and display ecosystem in India.

The said programme aims to extend fiscal support for the establishment of the Semiconductor Fabs, Display Fabs, Fabs for Compound Semiconductors/Silicon Photonics/Sensors/Discrete Semiconductors and Semiconductor Assembly, Testing, Marking, and Packaging (ATMP)/Outsourced Semiconductor Assembly and Test (OSAT) facilities.

Further, the India Semiconductor Mission (ISM) has been established under Digital India Corporation (DIC) to drive India's strategies for the development of the semiconductor and display manufacturing ecosystem in the country.

MeitY has also been mandated to promote international cooperation in the emerging and frontier areas of Information Technology under bilateral and regional frameworks.

With this objective, MeitY has entered into MoUs/MoCs/Agreements with counterpart organizations/agencies of various countries to promote bilateral cooperation and exchange of information and also to ensure supply chain resilience enabling India emerge as trusted partner.

Enhancing mutual collaboration between Japan and Indian companies through this MoU is a another such step towards mutually beneficial semiconductor related business opportunities and partnerships between India & Japan.

In view of synergies and complementarities between the two nations, "India-Japan Digital Partnership" (IJDP) was launched during the visit of PM Modi to Japan in October 2018 furthering existing areas of cooperation as well as new initiatives within the scope of cooperation in S&T/ICT, focusing more on "Digital ICT Technologies".

Based on the ongoing IJDP and India-Japan Industrial Competitiveness Partnership (IJICP), this MoC on Japan-India Semiconductor Supply Chain Partnership would further broaden and deepen the cooperation in the field of electronics ecosystem.

Recognizing the importance of semiconductor for the advancement of industries and digital technologies, this MoC would provide for the enhancement of semiconductor supply chain resilience.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.