NEW DELHI: The India-US trade deal can be a major catalyst for India's electronics, semiconductor, and technology ecosystem, Ashok Chandak, President of SEMI India and IESA said on Tuesday, adding it will accelerate semiconductor design and manufacturing, bolster value addition, and expand cooperation across AI and data centres space.
The comment from the industry assumes significance as the US and India have reached a trade deal following months of negotiations.
Washington will bring down the reciprocal tariff on Indian goods to 18 per cent from the current 25 per cent, President Trump said in a social media post on Monday after a phone conversation with Prime Minister Narendra Modi.
The prime minister said he was delighted that "Made in India products will now have a reduced tariff of 18 per cent".
IESA's (India Electronics and Semiconductor Association) Chandak said, the India-US trade deal can be a major catalyst for India's electronics, semiconductor, and technology ecosystem.
By improving market access, enabling smoother flow of capital equipment and advanced technologies, and, when complemented by the iCET and TRUST initiatives, strengthening trusted supply chains and deepening technology collaboration, the agreement significantly enhances India's attractiveness as a global manufacturing and innovation hub, Chandak said.
"It will accelerate semiconductor design and manufacturing, boost electronics value addition, and expand cooperation across AI, data centres, and advanced manufacturing - creating high-skill jobs and positioning India as a strategic and reliable partner in the global technology value chain," he added.
The vision of USD 500 billion bilateral trade can have over USD 100 billion trade for electronics and semiconductor sector, according to him.