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European Commission President Ursula von der Leyen proposed European Chips Act on 15th September 2021. According to this Act government of respective countries in Europe will invest in creating state of art facility in Europe and incasing overall production of semiconductor products. This Act was proposed to make Europe self sufficient in manufacturing chipsets for mobile phones and other consumer electronics related products. This will curb down its dependency on Asian as well as North American countries for semiconductors devices procurement.