Union cabinet okays cooperation with Japan on semiconductors
New Delhi, October 25
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 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 the semiconductor supply chain, recognizing the importance of semiconductors for the advancement of industries and digital technologies.
The MoC shall come into effect from the date of signature of the Parties and shall remain in force for a period of five years.
Cooperation will be at the government and industry level on opportunities to advance resilient semiconductor supply chains and leverage complementary strengths.
MoC envisages improved collaboration leading to employment opportunities in the field of IT.
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