As part of a series of initiatives launched under the Quad initiative to offer “tangible benefits to the region” India, the United States, Japan, and Australia have agreed to invest $50 billion in infrastructure development in the Indo-Pacific region over the next five years.
The four nations, in particular, have identified vulnerabilities in global semiconductor supply chains and resolved to collaborate to establish a “diverse and competitive” market by using their strengths.
The Quad also unveiled a Common Statement of Principles on Vital Technology Supply Chains, which aims to reduce regional risks and promote cooperation in semiconductors and other critical technologies. The countries have also agreed to broaden their collaboration in 5G technology by signing a new memorandum of understanding (MoU) on supplier diversification and interoperability standards.
The purpose is to ensure that “open and secure telecommunications technologies in the region” Prime Minister Narendra Modi said the Quad has gained prominence on the international stage and called the structure “effective.”
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