Associated Press’s Report During her visit to Japan, Harris focused on boosting semiconductor production and the supply chain for critical materials, according to . He said that during the epidemic, the major impact on the economy was known due to the interruption in the supply of computer chips. This increased the cost of the industry and delayed the assembly of cars and other products. Harris said, “People in the US and Japan depend on a lot of products that they often do not know that they use computer chips.” In the last few months, China has increased investment in computer chips. America is also trying to increase the production of semiconductor and for this technology related partnerships are being made with Japan, Taiwan and South Korea.
Harris said that America knows that no one country can meet the demand of the world and because of this, America and its allies need to work together. Under the Chips and Science Act passed in the US, $52 billion in grants and incentives will be given to semiconductor manufacturing companies. Along with this, 25 percent tax credit will also be available for setting up plants in America. In this act, a provision of about $ 200 billion has also been made to help research in the next decade.
Recently, Vedanta, one of the global mining companies, had decided to set up a semiconductor project in Gujarat. Vedanta has entered into a $20 billion joint venture with Taiwanese electronics manufacturer Foxconn for this project. Vedanta will have a majority stake in this joint venture. The company had sought financial subsidy from Gujarat for setting up a semiconductor plant and electricity at a lower price. Vedanta had asked for about 1,000 acres of land on a 99-year lease without cost. States like Maharashtra, Telangana and Karnataka were also in the running for this project.
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