New Delhi: India and the US are set to hold a formal dialogue on semiconductor cooperation, according to US Secretary of Commerce Gina Raimondo. Speaking at an event in New Delhi, Raimondo outlined Washington’s desire to work closely with partners like India to reduce supply chain vulnerabilities.
“On semiconductors, the United States is overly dependent on Taiwan. 93% of the world’s most advanced semiconductors are produced in Taiwan. By no measure is that stable. Having said that, we never expect to make all the semiconductors we consume in America,” she said.
Washington, Raimondo added, was looking to work closely with allies in India and Europe to avoid a subsidy race and secure its supply chains. It is in this context that New Delhi and Washington will discuss semiconductor co-operation. Raimondo pointed to Indian and American strengths in semiconductor design as a possible area of cooperation.
However, high tariffs on certain input components for semiconductors remain a challenge for US business in India, the Secretary went on to say. Besides this, navigating regulatory differences between Central and state regulations is also a challenge.
Secretary Raimondo was on a four-day visit to India and met her counterpart Minister Piyush Goyal.
“The US-India CEO Forum was soft-launched by Secretary Raimondo and Indian Commerce & Industry Minister Piyush Goyal in November 2022,” says a statement by the US Department of Commerce.
