According to India’s The Economic Times news outlet, the parties agreed to design, manufacture, equipment research and strengthen the supply chain with the memorandum of understanding signed by Ashwini Vaishnaw, Minister of Electronics and Information Technologies of India and Yasutoshi Nishimura, Minister of Economy and Trade of Japan, in New Delhi, the capital of India.
Speaking at the press conference held after the meeting, Vaishnaw stated that everyone wants a flexible chip supply chain, and that India and Japan are two very important partners in this regard.
Noting that the chip industry will become an industry from $650 million to $1 trillion, Vaishnaw said that this points to significant growth in many parts of the world and that the two countries can be pioneers in this regard.
Noting that Japan is home to world-leading chip companies, Vaishnaw said, “If we can bring this base to India, it will be a big milestone.” used the phrase.
On the question of the impact of China’s restriction on the export of the critical semiconductor elements gallium and germanium, Vaishnaw argued that the decision had little effect, as these elements have many more sources.
Japanese Minister Nishimura drew attention to the human resources power of India and said, “We want to move forward with concrete projects as soon as possible by taking advantage of each other’s strengths.” said.