India, EU sign pact for ties on semiconductors
Financial Express Mumbai|November 25, 2023
INDIA AND THE European Union on Friday signed a memorandum of understanding (MoU) on cooperation on the semiconductor ecosystem, which will facilitate investments, joint ventures and technology partnership including manufacturing facilities.
MUKESH JAGOTA
India, EU sign pact for ties on semiconductors

The move is in sync with India's plan to provide incentives worth $10 billion for chip manufacturing in the country.

The MoU was signed at the second India-EU Trade and Technology Council (TTC) meeting held virtually for deepening cooperation on the semiconductor ecosystem, supply chain and innovation.

The TTC meeting also reviewed the progress achieved by the working groups of the council particularly in the areas of high-performance computing, digital public infrastructure, EV batteries and its recycling, waste to energy, resilient supply chains and FDI screening.

The first meeting of the TTC was held in May in Brussels. India is the second country after the US with which the EU has a TTC mechanism.

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