US announces partnership with India in semiconductor sector

The US Department of State has announced a partnership with India to explore opportunities to expand and diversify the global semiconductor ecosystem. This initiative will be funded under the International Technology Security and Innovation (ITSI) Fund, established by the CHIPS Act of 2022, which aims to boost domestic semiconductor manufacturing and research in the US.

The CHIPS Act also created the ITSI Fund, providing the US Department of State with $500 million to promote the development and adoption of secure telecommunications technologies, strengthen semiconductor supply chains, and support other initiatives with international partners.