U.S. and India Plan to Boost Chips Collaboration, Commerce Secretary Says

(Bloomberg) — The U.S. and India will sign an agreement to boost coordination of their chip-industry incentive plans and are discussing the best ways to avoid over-subsidization as the South Asian nation looks to boost its role in the global technology supply chain.

The memorandum of understanding focuses on information-sharing and policy dialogue, U.S. Commerce Secretary Gina Raimondo told reporters Thursday. While she said there were no specific investment commitments by U.S. firms to announce, American companies are optimistic about future of ties with India, said Raimondo, who touted the benefits from greater collaboration on chips between the two governments.