"India and European Union Ink MoU for Semiconductor Research and Innovation"

India and the European Union (EU) have formalized their commitment to semiconductor research and innovation by signing a Memorandum of Understanding (MoU). The agreement encompasses cooperation in various domains, including research and innovation, talent development, partnerships, and the exchange of market information, as per the statement from the External Affairs Ministry recently.
The signing of the MoU preceded the India-EU Trade and Technology Council, conducted virtually on Friday. The Trade and Technology Council meeting was co-chaired by External Affairs Minister S Jaishankar, Minister of Commerce and Industry Piyush Goyal, and Minister of Electronics and Information Technology Ashwini Vaishnaw on the Indian side. Executive Vice-President Valdis Dombrovskis and Vice-President Vera Jourova led the meeting from the European side.
The Trade and Technology Council, initiated by Prime Minister Narendra Modi and President of the European Commission Ursula von der Leyen in April 2022, aims to strengthen collaboration on various fronts. The inaugural ministerial meeting occurred in Brussels on May 16, with working groups focusing on semiconductors, high-performance computing, digital public infrastructures, clean energy technologies, supply chain resilience, and trade issues.
During the virtual meeting, the co-chairs reviewed the progress made in these working groups since the inaugural ministerial meeting and discussed future action plans. The statement from the Ministry of External Affairs highlighted strategic guidance provided to the working groups on key areas like strategic technologies, digital connectivity, clean and green energy technologies, and trade, investment, and resilient supply chains.
The co-chairs expressed satisfaction with the progress achieved, particularly in semiconductors, high-performance computing, digital public infrastructures, EV batteries, waste to energy, resilient supply chains, and FDI screening. They emphasized the need to advance collaboration through research and innovation, moving towards practical outcomes and projects. Stakeholder consultations are planned before the next Trade and Technology Council meeting and the India-EU Summit.
The MoU on semiconductors, signed by Ashwini Vaishnaw and Thierry Breton, European Commissioner for Internal Markets, aims to enhance the resilience of the semiconductor value chain in India and the EU. It signifies a robust commitment to building strong semiconductor supply chains and fostering innovation. External Affairs Minister S Jaishankar, in a post on social media, thanked EU counterparts for their partnership and highlighted the commitment to promoting practical initiatives for economic security and engagement in digital and strategic technologies, clean energy, green technologies, trade, investment, and resilient value chains.
BS