After US and Japan, India Signs an Agreement with EU on Semiconductors Ecosystem – News18

India and the European Commission have signed a Memorandum of Understanding (MoU) on semiconductors, setting a pivotal milestone of their burgeoning technological alliance.

EU’s Executive Vice-President Valdis Dombrovskis and Vice-President Věra Jourová, together with Minister of External Affairs S Jaishankar, Minister for Electronics and IT Ashwini Vaishnaw, and Minister of Commerce Piyush Goyal, convened to evaluate the progress achieved underneath the EU-India Trade and Technology Council (TTC) and set the groundwork for upcoming Ministerial discussions.

During the discussions, the pivotal settlement was signed by Union Minister Vaishnaw and Thierry Breton, Commissioner for Internal Market, outlining a strategic roadmap for collaborative efforts between India and the EU. The major focus of this settlement can be establishing resilient semiconductor provide chains and fostering joint innovation endeavours.

Outlined inside the settlement are key aims that sign a shared dedication between India and the EU:

• Exchange of insights, greatest practices, and knowledge concerning respective semiconductor ecosystems.
• Identification of collaborative analysis, growth, and innovation alternatives amongst universities, analysis organizations, and companies.
• Promotion of ability growth, expertise acquisition, and workforce enhancement inside the semiconductor business by means of workshops, partnerships, and direct investments.
• Ensuring truthful competitors inside the sector by sharing data on allotted public subsidies.

It is known that this settlement propels each events to keep up common dialogues and current updates underneath the TTC framework. The subsequent TTC Ministerial Meeting, slated for early 2024 in India, anticipates additional developments of their collaborative endeavours.

During the Commercial Dialogue held in New Delhi in March India and the US inked an MoU centered on forging a semiconductor provide chain and innovation partnership.

Signed by Union Minister Goyal and US Secretary of Commerce Gina Raimondo, the MoU units up a collaborative mechanism between each governments, geared toward bolstering semiconductor provide chain resilience and diversification. This initiative additionally aligns with the US’s CHIPS and Science Act and India’s Semiconductor Mission.

Similarly in July, Union Minister Vaishnaw signed one other settlement with Japan’s Minister of Economy, Trade and Industry Nishimura Yasutoshi, to develop a semiconductor ecosystem, specializing in manufacturing, design, analysis, expertise and provide chain developments.