Will sign pact on chips on Friday, says US commerce secy Gina Raimondo

Raimondo says FTA off the table, IPEF to be more economically beneficial

India and the United States (US) had been working very ‘closely’ on semiconductors and would on Friday sign a pact on sharing information and commercial opportunities related to it, US Commerce Secretary Gina Raimondo said on Thursday.

The US wants to coordinate with its allies, including India and Europe, so that a ‘subsidy race’ and ‘glut’ in the semiconductor space can be also avoided in the future.

“So the discussions that we’ve (India and the US) had are providing transparency in our initiatives, coordinating and collaborating on how we administer our semiconductor initiatives,” said Raimondo, who is on a four-day visit to