According to the fresh reports, India signed a Memorandum of Understanding with the European Union on semiconductors. Yes, you heard it right, India and the EU signed an MoU ahead of their meeting as part of the EU-India Trade and Technology Council. Sources familiar with the development reported that the Hon’ble Minister of Electronic, IT, and Communications Shri Ashwini Vaishnaw signed an MoU with the European Commissioner for Internal Markets, Thierry Breton. In the following sections of this article, we have explained everything that you need to learn about the recently inked MoU between India and the European Union on semiconductors. Let’s delve deep into the article and unfold more details. Scroll down the page.
The Memorandum of Understanding on semiconductors was signed by the Electronic, IT, and Communication Minister of India and the European Commissioner for Internal Markets ahead of the India-EU Trade and Technology Council. Speaking of the MoU, its aim is to increase the resilience of the semiconductors value chain in India and the European Union and cover the cooperation in covering research and innovation, partnerships, talent development, and exchange of market information. The Memorandum of Understanding underlines the commitment of India and the EU to proceed with building robust semiconductor supply chains together on innovation. Shift to the next section and read what the Ministry of External Affairs stated.
The ministry stated, “The MoU symbolizes the strong commitment between India and EU to work towards building robust semiconductor supply chains and work together on innovation,” Reportedly, the EU-India TTC meeting was held virtually. The meeting was co-chaired by External Affairs Minister of India S Jaishankar, Electronics, IT, and Communication Minister of India Ashwini Vaishnaw, and Commerce Minister of India Piyush Goyal. Do you know: the EU-India TTC was first held in April 2022, when EU Commission President Ursula Von Der Leyen visited India. Swipe down the page and read more details.
MEA explained, “The inaugural Ministerial meeting of TTC was held in Brussels on 16 May 2023, where all the three working groups under TTC set out their cooperation on a wide range of issues including semiconductors, high-performance computing, digital public infrastructures, clean energy technologies, supply chain resilience, and trade issues,” Reportedly, both sides, India and the EU, assessed the progress in the working groups established under the TTC during the virtual meeting. Stay tuned to this website for more details and further updates.