G20: India and the United States signed several deals during the three-day G20 summit in New Delhi. These deals include the signing of an agreement between Bharat 6G Alliance and NextG Alliance, the formation of a semiconductor supply chain, and more.
In a joint statement issued after the bilateral talks, Prime Minister Narendra Modi and US President Joseph Biden agreed that both governments to continue working to transform the India-US strategic partnership in all dimensions with trust and mutual understanding.
Both leaders expressed support for building a resilient global semiconductor supply chain while reaffirming their commitment to maintaining high-level engagement between governments, industry, and academia.
Agreement to build a Semiconductor supply chain
Modi and Biden expressed support for building flexible global semiconductor supply chains, while announcing Microchip Technology’s multi-year effort to invest approximately $300 million to expand its research and development presence in India, as well as an investment of over $400 million in Advanced Micro Devices.
Deal Signed on 6G alliance
Both the leaders expressed their happiness over a Memorandum of Understanding (MoU) between Bharat 6G Alliance and NextG Alliance. This is a first step towards deepening public-private collaboration between suppliers and operators.
A deal for “Green Technology”
India and the US are making progress in creating investment platforms to lower capital costs and accelerate new renewable energy, battery storage, and growing green technology projects in India.
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