The move is in line with India’s plan to offer incentives worth $10 billion for chip manufacturing in the country.
India and the European Union on Friday signed a memorandum of understanding on cooperation in the semiconductor ecosystem, which will facilitate investments, joint ventures and technological collaborations, including on manufacture factory.
The move is in line with India’s plan to offer incentives worth $10 billion for chip manufacturing in the country.
The MoU was signed during the second virtual meeting of the India-EU Trade and Technology Council (TTC) to strengthen collaboration on ecosystem, supply chain and pickup truck innovation .
The TTC meeting also reviewed progress made by the council’s working groups, including in the areas of high performance computing, digital public infrastructure, electric vehicle batteries and recycling, energy recovery, flexible supply chains and FDI control. The first meeting of the TTC was held in May in Brussels. India is the second country after the United States where the EU has a TTC mechanism.
TTC’s role is to enhance strategic trade and technology engagement between the two partners.
Friday’s meeting was co-chaired from the Indian side by External Affairs Minister S Jaishankar, Commerce and Industry Minister Piyush Goyal and Minister for Electronics and Information Technology (MeiTy) Ashwini Vaishnaw.
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