After US and Japan, India Signs an Agreement with EU on Semiconductors Ecosystem – News18

India and the European Commission have signed a Memorandum of Understanding (MoU) on semiconductors, setting a pivotal milestone in their burgeoning technological alliance.

EU’s Executive Vice-President Valdis Dombrovskis and Vice-President Věra Jourová, along with Minister of External Affairs S Jaishankar, Minister for Electronics and IT Ashwini Vaishnaw, and Minister of Commerce Piyush Goyal, convened to assess the progress achieved under the EU-India Trade and Technology Council (TTC) and set the groundwork for upcoming Ministerial discussions.

During the discussions, the pivotal agreement was signed by Union Minister Vaishnaw and Thierry Breton, Commissioner for Internal Market, outlining a strategic roadmap for collaborative efforts between India and the EU. The primary focus of this agreement will be establishing resilient semiconductor supply chains and fostering joint innovation endeavours.

Outlined within the agreement are key objectives that signal a shared commitment between India and the EU:

• Exchange of insights, best practices, and information regarding respective semiconductor ecosystems.
• Identification of collaborative research, development, and innovation opportunities among universities, research organizations, and businesses.
• Promotion of skill development, talent acquisition, and workforce enhancement within the semiconductor industry through workshops, partnerships, and direct investments.
• Ensuring fair competition within the sector by sharing information on allocated public subsidies.

It is understood that this agreement propels both parties to maintain regular dialogues and present updates under the TTC framework. The subsequent TTC Ministerial Meeting, slated for early 2024 in India, anticipates further advancements in their collaborative endeavours.

During the Commercial Dialogue held in New Delhi in March India and the US inked an MoU focused on forging a semiconductor supply chain and innovation partnership.

Signed by Union Minister Goyal and US Secretary of Commerce Gina Raimondo, the MoU sets up a collaborative mechanism between both governments, aimed at bolstering semiconductor supply chain resilience and diversification. This initiative also aligns with the US’s CHIPS and Science Act and India’s Semiconductor Mission.

Similarly in July, Union Minister Vaishnaw signed another agreement with Japan’s Minister of Economy, Trade and Industry Nishimura Yasutoshi, to develop a semiconductor ecosystem, focusing on manufacturing, design, research, talent and supply chain developments.