United States’ Creating Helpful Incentives to Produce Semiconductors and Science Act, 2022 (CHIPS and Science Act, 2022) aims to catalyseinvestments in the domestic semiconductor manufacturing capacity of the US.
US produces about 10 per cent of world’s semiconductors and relies heavily on East Asia to import chips.
The CHIPS and Science Act directs US$ 280 billion in spending over the next ten years, with the bulk of it going to Research and Development (R&D).
In the pursuit of Aatmanirbharta and with the objective of plugging itself into the global value chain, India has announced multiple incentives to attract investment for developing a semiconductor manufacturing ecosystem
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