US President Joe Biden, who came to India for the G20 summit, issued a joint statement after bilateral talks with PM Narendra Modi. In this, both the countries expressed support for increasing mutual cooperation to strengthen the global supply chain of semiconductors. An investment of 300 million dollars will be made for this.
New Delhi, Business Desk. Both America and India will together increase mutual cooperation to strengthen the global supply chain of semiconductors. For this, apart from the governments of both the countries, cooperation will also be increased between industry and academic institutions.
Biden comes to India for G20 conference
US President Joe Biden, who came to India for the G20 summit, issued a joint statement after bilateral talks with PM Narendra Modi, in which it was said that both the governments will strengthen the strategic partnership between America and India on the basis of mutual cooperation and trust. To take new dimensions in the areas.
There will be an investment of 300 million dollars
The two countries have agreed to expand $300 million to expand research and development in microchip technology in India to enhance the resilience of the global supply chain of semiconductors.
Additionally, an investment of $400 million was made by Advanced Micro Devices for research, development and engineering operations over the next five years.
In a joint statement, Modi and Biden expressed satisfaction over the ongoing implementation of the announcements made by American companies Micron, LAM Research and Applied Materials in June 2023.
Many world leaders in G20
The G20 summit meeting is going to be held in Delhi from 9 to 10 September. For this reason, the heads of heads of major institutions of the world including heads of many big countries of the world have come to Delhi.