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- India and the European Union signed a pact to build a robust supply chain and support innovation in semiconductors.
- The MoU has been signed at the meeting of the EU-India Trade and Technology Council (TTC).
- Under this MoU, India and the EU will share experiences, best practices and information related to semiconductor ecosystems.
- Both sides will identify areas of collaboration in research, development and innovation among universities, research organizations and businesses.
- Semiconductors have emerged as a strategic commodity after the COVID period.
- This agreement will help India align more with the EU and the US on the future semiconductor industry.
- The Trade and Technology Council will meet in India in early 2024.
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