MoU between India and the European Commission

  • Approved by the Union Cabinet chaired by the Prime Minister, Mr Narendra Modi.
  • Memorandum of Understanding (MoU) signed on 21st November 2023 between the Government of the Republic of India and the European Commission.
  • on Working Arrangements on Semiconductors Ecosystems, its supply chain and innovation under the framework of the EU-India Trade and Technology Council (TTC).

Benefits:

  • To strengthen cooperation between India and the EU towards the enhancement of semiconductors for the advancement of Industries and digital technologies.
  • Both G2G and B2B bilateral Cooperation to boost the resilience of the semiconductor supply chains and leverage complementary strengths.
  • To promote collaboration in the field of semiconductors.

Background:

  • India Semiconductor Mission (ISM) has been established under Digital India Corporation (DIC) to drive India‚Äôs strategies for the development of the semiconductor and display manufacturing ecosystem.
  • MeitY has entered into MoUs/MoCs/Agreements with counterpart organizations/agencies of various countries to promote bilateral cooperation and exchange of information to ensure supply chain resilience.
  • To boost the semiconductor supply chains and leverage complementary strengths.
Posted in Current Affairs.