ENA Sectors 2023-10-26 15:45:04 <p><span style="font-size:14px"><strong>New Delhi, Oct 26 (KNN)</strong> The Union Cabinet has given a green light to the Memorandum of Cooperation (MoC) between India and Japan on developing a semiconductor supply chain partnership.</span></p> <p><span style="font-size:14px">The partnership between two nations will focus on research and development (R&amp;D), manufacturing, design, and talent development for the industry.</span></p> <p><span style="font-size:14px">The MoC was initially signed in July this year between the IT Ministry and Japans Ministry of Economy, Trade and Industry.</span></p> <p><span style="font-size:14px">The MoC intends to strengthen cooperation between India and Japan towards enhancement of the semiconductor supply chain, recognising the importance of semiconductors for the advancement of industries and digital technologies, a statement released by the Union Cabinet said.</span></p> <p><span style="font-size:14px">The MoC will come into effect from the date of signature of the parties and remain in force for a period of five years.</span></p> <p><span style="font-size:14px"> Both G2G and B2B Bilateral Cooperation on opportunities to advance resilient semiconductor supply chains and leverage complementary strengths, the statement said.</span></p> <p><span style="font-size:14px">India is looking to establish itself as a reliable presence in the semiconductor supply chain, especially at a time when companies are looking to diversify from China, which has been the hub of electronics manufacturing for several decades now. </span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 35278 https://knnindia.co.in/news/newsdetails/sectors/union-cabinet-approves-india-japan-pact-on-semiconductor-supply-chain 2023-10-26 15:45:04 knnindia.co.in