Following the United States, Japan has signed an agreement with India for the joint development of the semiconductor ecosystem and the resilience of its global supply chain. Union Minister for Electronics and IT Ashwini Vaishnaw and Japan's Minister of Economy, Trade, and Industry Yasutoshi Nishimura signed the agreement on July 20 in the national capital.

"Japan and India have signed a memorandum of understanding for semiconductor design, manufacturing, equipment research, talent development, and bringing resilience to the semiconductor supply chain," Vaishnaw explained.

The nations will establish a "implementation organisation" to work on government-to-government and industry-to-industry cooperation, according to Vaishnaw.

"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 very successful state visit to the United States, where many agreements were signed and are now being reflected in cooperation with other countries," Vaishnaw said.

Japan is one of the top five semiconductor ecosystem countries, with approximately 100 semiconductor manufacturing plants.

"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 significant growth in multiple locations around the world. "Japan sees India as a partner with complementary strengths," Vaishnaw said.