India And EU Inks MoU To Enhance Resilience In Semiconductor Supply Chain

New Delhi, Nov 25 (KNN) India and the European Union (EU) on Friday signed an agreement to collaborate on semiconductor supply and innovation.

The initial agreement was signed by Thierry Breton, European Internal Market Commissioner, and Ashwini Vaishnaw, India's Minister of Railways, Communications, Electronics, and Information Technology.

As per the European Commission's statement, the EU and India intends to do the following under this Memorandum:1. Share different semiconductor ecosystems' experiences, best practices, and information.

1. Identify opportunities for research, development, and innovation partnership among universities, research institutions, and enterprises.

2. 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.

3. Maintain a level playing field in the sector, especially by exchanging information on governmental subsidies awarded.

Vaishnaw on X  said that the agreement will enhance resilience in semiconductor supply chain.

Both partners will continue to meet on a regular basis and report to the Trade and Technology Council (TTC). 

The next TTC Ministerial Meeting will be held in India in early 2024.

(KNN Bureau)