EU Commission and India sign MoU on semiconductors
Date: 27/11/2023
EU and India signed Memorandum of Understanding on semiconductors. It was signed by Thierry Breton, Commissioner for Internal market, and Ashwini Vaishnaw, Minister for Railways, Communications, Electronics and Information Technology of the Government of India. This agreement sets out how the EU and India will cooperate to build robust semiconductor supply chains and work together on innovation.
Under this Memorandum, the EU and India intend to:
1. Share experiences, best practices and information on our respective semiconductors ecosystems;
2. Identify areas for collaboration in research, development and innovation among universities, research organisations and businesses;
3. Promote skills, talent and workforce development for the semiconductors industry and facilitate collaboration via the organisation of workshops, partnerships and the promotion of direct investments;
4. Ensure a level playing field in the sector, including by sharing information on granted public subsidies.
Vera Jourová, Vice-President for Values and Transparency said "Semiconductors power the green and digital transition. They are also crucial to our economic security and the competitiveness of EU industry and its economy more broadly. Signing this agreement with India, a trusted and dynamic partner with complementary strengths, will foster innovation in this important area."
Thierry Breton, Commissioner for Internal Market said "Chips are vital for our economies, and we are strengthening our resilience in the new geopolitics of semiconductor supply chains. I am glad we will continue to cooperate with India, a key partner, on trade and technology issues to overcome supply chain challenges. In the longer term, our cooperation on research and skills will be essential to strengthen our resilience."
"Noted the progress since our first meeting in May 2023 in digital and strategic technologies; clean energy and green technologies; and trade and investment and resilient value chains." quoted by S Jaishankar External Affairs Minister of India. In his X account.
News Source: EU Commission
