Sanjay Mehrotra, President-CEO of Micron Technology, global leaders in semiconductors on Wednesday (local time) met Prime Minister Narendra Modi and said that the meeting with him was “excellent.”

“I had an excellent meeting with PM Modi. I am very impressed with the vision that he has for India and the advances that India is making. We discussed a wide range of topics and we really look forward to greater opportunities in India,” said Mehrotra.

Recently, India and the US have signed a Memorandum of Understanding (MoU) on establishing the Semiconductor Supply chain during India – USA 5th Commercial Dialogue 2023, which can help India realize its long-nurtured dream of becoming a hub for electronic goods.

The MoU seeks to establish a collaborative mechanism between the two governments on semiconductor supply chain resiliency and diversification in view of the US’s CHIPS and Science Act and India’s Semiconductor Mission.

The US and China are giants in chip manufacturing. So, this pact with the US to strengthen cooperation in the semiconductor sector to facilitate commercial opportunities and the development of innovation ecosystems is likely to help India immensely.

It can help India align into a more central role in the global electronics supply chain.

The crunch in semiconductors supply began during Covid-19 and went on to intensify in 2021. A Goldman Sachs report suggested that at least 169 industries had been impacted by the global chip supply shortage in 2021.

The crunch has eased now but some disruptions in the supply chain still exist.

Source ANI