US and India Plan to Boost Chips Collaboration, Biden’s Commerce Chief Says
- Biden Commerce Secretary Raimondo on weeklong New Delhi trip
- Raimondo says US wants India to play bigger supply-chain role
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The US and India will sign an agreement to boost coordination of their chip-industry incentive plans and are discussing the best ways to avoid over-subsidization as the South Asian nation looks to boost its role in the global technology supply chain.
The memorandum of understanding focuses on information-sharing and policy dialogue, Commerce Secretary Gina Raimondo told reporters Thursday. While she said there were no specific investment commitments by US firms to announce, American companies are optimistic about the future of ties with India, said Raimondo, who touted the benefits from greater collaboration on chips between the two governments.