U.S. CHIPS Act Aims to Boost Domestic Semiconductor Manufacturing and Reduce China Dependency
The U.S. has enacted the CHIPS and Science Act of 2022, a significant initiative designed to bolster domestic semiconductor manufacturing. This legislation seeks to decrease the nation's reliance on foreign supply chains, particularly from China, and enhance the security of critical technology components. The Act provides incentives and support for semiconductor companies to establish and expand manufacturing facilities within the United States. Concurrently, India has launched its Semicon India Programme, which aligns with U.S. goals by offering incentives to attract global semiconductor firms and build its own domestic chip manufacturing capabilities. Both countries are collaborating on technology transfer, joint research and development, and investments to strengthen their respective semiconductor ecosystems. U.S. firms like Micron, AMD, and Applied Materials are partnering with India to develop its chip manufacturing infrastructure, with Micron investing $2.75 billion in a semiconductor assembly and te...
