Japan-India Semiconductor Supply Chain Partnership Memorandum For G2G, B2B Bilateral Cooperation Approved by Cabinet
Jone
25 October 2023, 5:26pm
The Union Cabinet, presided over by Prime Minister Narendra Modi on Wednesday (25 October) approved a Memorandum of Cooperation (MoC) signed in July 2023 between India and Japan for Semiconductor Supply Chain Partnership.
Credit: Google
The Union Cabinet, presided over by Prime Minister Narendra Modi on Wednesday (25 October) approved a Memorandum of Cooperation (MoC) signed in July 2023 between India and Japan for Semiconductor Supply Chain Partnership. This MoC involves the Ministry of Electronics and Information Technology of India (MEITy) and the Ministry of Economy, Trade, and Industry of Japan.
The MoC takes effect from the date of its signing and will remain in force for a duration of five years. It encompasses both Government-to-Government (G2G) and Business-to-Business (B2B) collaboration to explore opportunities for bolstering the resilient semiconductor supply chain, capitalising on each other's strengths.
Additionally, the MoC envisions that this enhanced collaboration will lead to increased job opportunities, particularly in the field of Information Technology.
The primary objective of this MoC is to fortify cooperation between India and Japan, particularly in the realm of the semiconductor supply chain. It underscores the pivotal role of semiconductors in advancing various industries and digital technologies.
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