Cabinet Gives Go-Ahead To Pact On India-Japan Semiconductor Partnership
Date
10/25/2023 7:00:29 AM
(MENAFN- IANS) New Delhi, Oct 25 (IANS) The Cabinet has given approval for the Memorandum of Cooperation (MoC) between the Ministry of Electronics and Information technology and the Ministry of Economy, Trade and industry of Japan on Japan-India Semiconductor supply chain Partnership, according to an official statement issued on Wednesday.
The MoC which was signed in July this year and will remain in force for five years intending to strengthen cooperation between India and Japan towards enhancement of semiconductor supply chain, recognising the importance of semiconductor for the advancement of industries and digital technologies.
The emphasis will be on both G2G and B2B bilateral cooperation on opportunities to advance resilient semiconductor supply chain and leverage complementary strengths.
The MoC envisages improved collaboration leading to employment opportunities in the field of IT.
MeitY has been actively working to create a conducive environment for electronics manufacturing. The programme for 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 program aims to extend financial support for the establishment of 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.
MeitY has also been mandated to promote international cooperation in the emerging and frontier areas of Information Technology under bilateral and regional frameworks.
Enhancing mutual collaboration between Japan and Indian companies through this MoU is another such step towards mutually beneficial semiconductor related business opportunities and partnerships between India and 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.
Based on the ongoing IJDP and India-Japan Industrial Competitiveness Partnership, this MoC on Japan-India Semiconductor Supply Chain Partnership would further broaden and deepen the cooperation in the field of electronics ecosystem.
Recognising the importance of semiconductor for the advancement of industries and digital technologies, this MoC would provide for the enhancement of semiconductor supply chain resilience, the official statement added.
--IANS
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