29, February, 2024
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India and EU Forge Semiconductor Partnership, Strengthening Supply Chains and Innovations

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India and the European Union (EU) have solidified their collaboration in the semiconductor sector with the signing of a crucial Memorandum of Understanding (MoU). The signing took place in anticipation of the EU-India Trade and Technology Council (TTC) meeting, reflecting the shared commitment to enhancing the resilience of semiconductor value chains in both regions.

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The MoU was inked by Shri. Ashwini Vaishnaw, India’s Minister of Electronics, IT & Communications, and Thierry Breton, the European Commissioner for Internal Markets. This strategic agreement encompasses multifaceted cooperation, including research and innovation, talent development, partnerships, and the exchange of market information. It signifies a robust commitment from both India and the EU to collaboratively build resilient semiconductor supply chains and foster innovation.

The virtual meeting of the EU-India TTC, co-chaired by India’s External Affairs Minister S Jaishankar, Commerce Minister Piyush Goyal, and Electronics and IT Minister Ashwini Vaishnaw, assessed the progress in various working groups established under the TTC. The inaugural Ministerial meeting of the TTC, held in Brussels in May 2023, set the stage for cooperation on diverse issues such as semiconductors, high-performance computing, digital public infrastructures, clean energy technologies, supply chain resilience, and trade matters.

During the virtual session, both parties expressed satisfaction with the strides made in working groups, particularly in semiconductors, high-performance computing, digital public infrastructures, EV batteries and recycling, waste to energy, resilient supply chains, and FDI screening. The co-chairs emphasized elevating collaboration through research and innovation to the next phase of implementation, fostering practical outcomes and projects. Stakeholder consultations are slated to intensify before the next TTC meeting and the India-EU Summit, scheduled for early next year.

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The MoU on semiconductors signifies a significant step toward not only fortifying semiconductor supply chains but also fostering innovation and mutual growth between India and the EU. The forthcoming meetings are expected to further cement this strategic partnership and pave the way for transformative outcomes in the semiconductor sector.

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