India and the European Union on Friday signed a Memorandum of Understanding on semiconductors that will help in building a “robust supply chain” and support innovation. The MoU was sealed during a “stock-taking call” between leaders of the EU-India Trade and Technology Council (TTC). The EU announced that the agreement will lead to sharing information on “granted public subsidies”.
Under this MoU, India and the EU are expected to “share experiences, best practices and information on our respective semiconductors ecosystems; identify areas of collaboration in research, development and innovation among universities, research organisations and businesses,” a statement from the EU has announced.
During the stock-taking call, the EU was represented by the TTC’s Executive Vice President Valdis Dombrovskis and Vice President Vera Jourova. From the Indian side the team was led by External Affairs Minister S. Jaishankar and Minister for Railways, Communications, Electronics and Information Technology Ashwini Vaishnaw and Commerce and Industry Minister Piyush Goyal.
