Active Stocks
Fri May 24 2024 12:40:57
  1. Tata Steel share price
  2. 176.05 0.34%
  1. State Bank Of India share price
  2. 834.80 0.29%
  1. NTPC share price
  2. 374.20 0.51%
  1. Wipro share price
  2. 466.80 0.19%
  1. ITC share price
  2. 437.70 -0.79%
Business News/ Politics / Policy/  India, EU sign MoU on semiconductors
BackBack

India, EU sign MoU on semiconductors

India and the European Union signed a Memorandum of Understanding on semiconductors​ ahead of a meeting of the EU-India Trade and Technology Council.

India and the European Union signed a Memorandum of Understanding on semiconductors​ ahead of a meeting of the EU-India Trade and Technology Council. (Bloomberg)Premium
India and the European Union signed a Memorandum of Understanding on semiconductors​ ahead of a meeting of the EU-India Trade and Technology Council. (Bloomberg)

India and the European Union signed a Memorandum of Understanding on semiconductors​ ahead of a meeting of the EU-India Trade and Technology Council.

“The MoU was signed by Shri. Ashwini Vaishnaw, Hon’ble Minister of Electronics, IT & Communications and Thierry Breton, European Commissioner for Internal Markets.

The MoU, aims at increasing resilience of semi-conductors value chain in India and EU and covers cooperation in wide areas covering research and innovation, talent development, partnerships and exchange of market information. The MoU symbolizes the strong commitment between India and EU to work towards building robust semiconductor supply chains and work together on innovation," reads a press release by the Ministry of External Affairs.

"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

The meeting of the EU India TTC was held virtually and co-chaired by India’s External Affairs Minister S Jaishankar, Commerce Minister Piyush Goyal and Electronics and IT Minister Ashwini Vaishnaw. The EU-India TTC was first launched in April 2022, when EU Commission President Ursula Von Der Leyen visited India.

“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 semi-conductors, high-performance computing, digital public infrastructures, clean energy technologies, supply chain resilience and trade issues," explains a press release by the MEA.

During this virtual meeting, both sides assessed the progress in the working groups established under the TTC.

“​The co – chairs expressed satisfaction at the progress achieved in the Working groups till date, particularly in the areas of Semiconductors, High performance Computing, Digital Public Infrastructures, EV batteries and its recycling, waste to energy, Resilient supply chains and FDI screening. The co – chairs stressed on taking the collaboration through research and innovation to the next phase of implementation in terms of practical outcomes/projects, through more intensive stakeholder consultations before the next TTC meeting and India – EU Summit," the MEA said.

​A Memorandum of Understanding (MoU) on semi-conductors between India and EU was also signed ahead of the TTC Meeting. The MoU was signed by Shri. Ashwini Vaishnaw, Hon’ble Minister of Electronics, IT & Communications and Thierry Breton, European Commissioner for Internal Markets. The MoU, aims at increasing resilience of semi-conductors value chain in India and EU and covers cooperation in wide areas covering research and innovation, talent development, partnerships and exchange of market information. The MoU symbolizes the strong commitment between India and EU to work towards building robust semiconductor supply chains and work together on innovation.

​Both sides agreed to hold the next meeting of the TTC in India back – back with the India – EU Summit at a mutually convenient date early next year

You are on Mint! India's #1 news destination (Source: Press Gazette). To learn more about our business coverage and market insights Click Here!

Catch all the Politics News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 24 Nov 2023, 10:28 PM IST
Next Story footLogo
Recommended For You