EU and India to cooperate on semiconductors
The EU is teaming up with India on semiconductors. India and the EU have signed a Memorandum of Understanding (MoU) which sets out how the parties will cooperate to build robust semiconductor supply chains and collaborate on innovation.
The MoU was signed at the second EU-India Trade and Technology Council (TTC).
More specifically the EU and India intend to share experiences, best practices and information on their respective semiconductor ecosystems. The parties will also identify areas for collaboration in R&D and innovation among universities, research organisations and businesses. Adding to this they will also promote talent and workforce development for the semiconductors industry – this will take the shape of collaborations in workshops, partnerships and the promotion of direct investments.
"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," says Thierry Breton, Commissioner for Internal Market, in a press release.