New Delhi: In a significant move towards fostering technological advancement and collaboration, the Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has been informed about a Memorandum of Understanding (MoU) signed on November 21, 2023, between the Government of the Republic of India and the European Commission. This strategic agreement focuses on Working Arrangements regarding Semiconductors Ecosystems, its supply chain, and innovation, operating under the framework of the EU-India Trade and Technology Council (TTC).
The MoU aims to reinforce cooperation between India and the European Union (EU) with a specific emphasis on enhancing semiconductor technologies for the progression of industries and digital technologies.
The MoU is slated to come into effect from the date of its signing and will remain in force until both parties confirm the achievement of its objectives or until one side discontinues its participation.
The collaborative effort outlined in the MoU is expected to facilitate Government-to-Government (G2G) and Business-to-Business (B2B) bilateral cooperation. The overarching goal is to bolster the resilience of semiconductor supply chains, leveraging the complementary strengths of both parties and fostering collaboration in the dynamic field of semiconductors.
The Ministry of Electronics and Information Technology (MeitY) has actively spearheaded initiatives to create a conducive environment for electronics manufacturing in India. The “Programme for Development of Semiconductor and Display Manufacturing Ecosystem in India” was introduced to ensure the development of a robust and sustainable semiconductor and display ecosystem in the country. This program extends fiscal support for various facilities, including Semiconductor Fabs, Display Fabs, and facilities for Compound Semiconductors, Silicon Photonics, Sensors, Discrete Semiconductors, and Semiconductor Assembly, Testing, Marking, and Packaging (ATMP)/Outsourced Semiconductor Assembly and Test (OSAT).
Furthermore, the India Semiconductor Mission (ISM), established under the Digital India Corporation (DIC), plays a pivotal role in driving India’s strategies for the development of the semiconductor and display manufacturing ecosystem.
MeitY, mandated to promote international cooperation in emerging areas of Electronics and Information Technology, has entered into various Memorandums of Understanding (MoUs), Memorandums of Cooperation (MoCs), and agreements with counterpart organizations/agencies of various countries. The objective is to promote bilateral cooperation, exchange information, and ensure supply chain resilience, positioning India as a trusted partner on the global stage.
The signing of the MoU between India and the EU marks a crucial step towards fostering mutually beneficial semiconductor-related business opportunities and partnerships. It reinforces the commitment of both sides to enhance bilateral collaboration, strengthen semiconductor supply chains, and promote innovation in this critical field. This strategic alliance is poised to open new avenues for technological cooperation and economic growth between India and the European Union.
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