Japan becomes second Quad partner to sign semiconductor pact with India
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After the United States, Japan has become the second Quad partner to sign an agreement with India for the cooperative growth of the semiconductor ecosystem and the resilience of its global supply chain.
The deal was inked in the national capital on Thursday by Union Minister for Electronics and IT Ashwini Vaishnaw and Japan's Minister of Economy, Trade, and Industry Yasutoshi Nishimura. "Japan and India have signed a memorandum for semiconductor design, manufacturing, equipment research, talent development, and bringing resilience to the semiconductor supply chain," Vaishnaw said.
According to Vaishnaw, the nations would establish a "implementation organisation" to focus on government-to-government and industry-to-industry collaboration.
"Everyone wants a resilient semiconductor supply chain, and India and Japan are key partners in this regard." This is in continuation of our Prime Minister Shri Narendra Modi Ji's extremely successful state visit to the United States, where numerous agreements were reached and are now being reflected in collaboration with other nations," Vaishnaw added.
"From USD 650 billion today, the semiconductor industry will grow to USD 1 trillion." This will necessitate a large number of talents as well as tremendous expansion in numerous areas throughout the world. "Japan sees India as a partner with complementary strengths," Vaishnaw remarked.
According to the minister, Japan is home to enterprises that are global leaders in raw semiconductor wafers, chemicals and gases, lenses used in chip fabrication equipment, display technology, and so on.
"Bringing this base to India will be a significant milestone," Vaishnaw added. According to the minister, the government has begun discussions with Japan's state-backed semiconductor industry association Rapidus about partnership in the market.