Cabinet approves MoU between India and EU Commission on Working Arrangements on Semiconductors Ecosystems

The MoU intends to strengthen cooperation between India and EU towards enhancement of semiconductor for the advancement of Industries and digital technologies.

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

Details:

The MoU intends to strengthen cooperation between India and EU towards enhancement of semiconductor for the advancement of Industries and digital technologies.

Implementation strategy and targets:

The MoU shall come into effect from the date of signature and may continue until both sides confirm that the objectives of this instrument have been achieved or until one side discontinues its participation in this instrument.

Impact:

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.

(With Inputs from PIB)