India-US Joint Statement: Pledge to Build Resilient Global Semiconductor Supply Chain Amid G20 Summit

On September 8, India and the United States expressed their mutual support for the construction of a resilient global semiconductor supply chain. This was announced during bilateral talks held in New Delhi between Prime Minister Narendra Modi and US President Joseph Biden. The two leaders reaffirmed their commitment to maintaining high-level engagements between government entities, industry sectors, and academic institutions.

A Strategic Partnership Based on Trust

The joint statement issued after the meeting called upon both governments to continue working towards transforming the India-US strategic partnership across all dimensions. This transformation is expected to be based on trust and mutual understanding. The meeting took place shortly after President Biden arrived in New Delhi to participate in the G20 Summit chaired by Prime Minister Modi.

Building Resilient Global Semiconductor Supply Chains

In this context, both leaders highlighted their support for building robust global semiconductor supply chains. They noted a multi-year initiative by Microchip Technology to invest approximately USD 300 million in expanding its research and development presence in India. Additionally, Advanced Micro Devices (AMD) has announced plans to invest USD 400 million over the next five years with an aim of expanding its research, development, and engineering operations within India.

Satisfaction Over Ongoing Implementation of Announcements

The joint statement also mentioned that both PM Modi and President Biden expressed satisfaction at ongoing implementation efforts related to announcements made by US companies such as Micron Technology Inc., LAM Research Corporation, Applied Materials Inc., among others back in June 2023.

Memorandum of Understanding Between Bharat 6G

Furthermore, they welcomed the signing of a Memorandum of Understanding (MoU) between Bharat 6G - an Indian entity presumably involved in telecommunications or technology sector - although further details about this MoU were not provided in the statement.

In conclusion, the bilateral talks between India and the US have underscored a shared vision for a more resilient global semiconductor supply chain. With major tech companies like Microchip Technology and AMD planning significant investments in India, it's clear that both nations are committed to fostering further growth and cooperation within this sector. The signing of an MoU between Bharat 6G adds another layer to this growing partnership, highlighting how collaboration can lead to mutual benefits. This meeting serves as a reaffirmation of the strong strategic partnership between India and the US, one that is based on trust, mutual understanding, and shared goals.