Google News
logo
Daily Current Affairs
Which countries are inked (10th March 2023) an initial pact on increasing private-sector cooperation in the area of semiconductors?
A)
India and Russia
B)
India and UK
C)
India and US
D)
India and Australia

Correct Answer :   India and US


India and the US on Friday (10th March 2023) inked an initial pact on increasing private sector cooperation in the area of semiconductors under which the two countries would facilitate business opportunities and develop an ecosystem with a view to reduce their dependency on China and Taiwan.

The Memorandum of Understanding (MoU) on establishing semiconductor supply chain and innovation partnership under the framework of IndiaUS Commercial Dialogue was signed by US Secretary of Commerce Gina Raimondo and Commerce and Industry Minister Piyush Goyal during the Commercial Dialogue here.

According to a joint statement, both sides have agreed to set up a semiconductor sub-committee, led by the Department of Commerce for the US side and the Ministry of Electronics and Information Technology (MeitY) and Ministry of Commerce and Industry for the Indian side.

The committee will convene its first engagement in mid-year to review recommendations from the joint industry-led task force launched in connection with the iCET (Initiative on Critical and Emerging Technologies).

Raimondo, who was on a four-day visit to India, was accompanied by the chief executive officers of 10 US companies. She met several ministers besides holding meetings with Goyal...

Source : Business Standard

Published On : March 13, 2023
Advertisement