The Business Bytes
TBB BUREAU
NEW DELHI, OCT 25, 2023
The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the Memorandum of Cooperation (MoC) signed in July, 2023 between the Ministry of Electronics and Information Technology of the India and the Ministry of Economy, Trade and Industry of Japan on Japan-India Semiconductor Supply Chain Partnership.
The MoC intends to strengthen cooperation between India and Japan towards enhancement of semiconductor supply chain, recognizing the importance of semiconductor for the advancement of industries and digital technologies.
The MoC shall come into effect from the date of signature of the Parties and shall be remain in force for a period of five years.
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.
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 furthering existing areas of cooperation as well as new initiatives within the scope of cooperation in S&T/ICT, focusing more on “Digital ICT Technologies”.
Based on the ongoing IJDP and India-Japan Industrial Competitiveness Partnership (IJICP), this MoC on Japan-India Semiconductor Supply Chain Partnership would further broaden and deepen the cooperation in the field of electronics ecosystem.
Recognizing the importance of semiconductor for the advancement of industries and digital technologies, this MoC would provide for the enhancement of semiconductor supply chain resilience.
