MoU to promote the semiconductor industry’s skills, talent, and workforce development, as well as collaboration, through the organisation of workshops, collaborations, and the promotion of direct investments.
Ashwini Vaishnaw, Union Minister for Electronics, IT and Communication, has signed a memorandum of understanding (MoU) with European Commissioner for Internal Markets Thierry Breton. The MoU aims to improve semiconductor value chain resilience in India and the European Union (EU). It was signed after the India-EU Trade and Technology Council (TTC) meeting on November 24.
Under the MoU, the two countries will collaborate in a wide range of areas for talent development, research and innovation. It includes various innovation partnerships among universities, research institutions and enterprises. They will exchange market information as well as information about involved government subsidies.
The idea is to build robust semiconductor supply chains. This will be done by promotion of direct investments, workforce development and collaboration. This will include organisation of workshops and sharing different semiconductor ecosystem experiences.
The virtual TTC meet was co-chaired by Indian External Affairs Minister S Jaishankar and Union Industry and Commerce minister, Piyush Goyal, on the Indian side; Vice President Vera Jourova and Executive Vice President Valdis Dombrovskis, on the European side.
In the meeting, they appreciated progress of working groups in areas of semiconductors, high performance computing, digital public infrastructure, EV batteries and its recycling, waste to energy, resilient supply chains and FDI screening.
The next meet will be held in India in 2024 and both parties will meet regularly to discuss the progress and further optimisation. TTC was launched by Prime Minister Narendra Modi and President of European Commission Ursula von der Leyen in April 2022, during her visit to India.