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US President Joe Biden and Indian Prime Minister Narendra Modi signed a pivotal agreement to establish a new advanced semiconductor fabrication plant in Kolkata, India.
Hailed as a “watershed agreement,” this deal aims to strengthen the US-India strategic partnership in critical technologies.
Semiconductor Agreement
The semiconductor fab plant will manufacture infrared, gallium nitride, and silicon carbide semiconductors.
Chips will be supplied to both the US and Indian defense forces, showcasing the success of this Indo-US partnership.
The agreement extends to strategic cooperation in other critical technology areas.
Why It Matters
- Strengthened US-India ties in emerging technologies.
- Boosts India’s semiconductor manufacturing capabilities, reducing dependence on imports.
- Creates new job opportunities and attracts investments in India’s semiconductor ecosystem.
- Enhances global semiconductor supply chain security.
Both leaders expressed appreciation for this agreement, viewing it as a milestone in the US-India strategic partnership.
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