Cabinet approves Memorandum of Understanding between India and the European Commission on Working Arrangements on Semiconductors Ecosystems
No: -- Dated: Jan, 18 2024
Cabinet approves Memorandum of Understanding between India and the European Commission on Working Arrangements on Semiconductors Ecosystems under the framework of EU-India Trade and Technology Council
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.
Background:
MeitY has been actively working to create a conducive environment for electronics manufacturing. Programme for Development of Semiconductor and Display Manufacturing Ecosystem in India was introduced with a view to ensure the development of a robust and sustainable semiconductor and display ecosystem in India. The said program aims to extend fiscal support for establishment of Semiconductor Fabs, Display Fabs, Fabs for Compound Semiconductors/Silicon Photonics/Sensors/Discrete Semiconductors and Semiconductor Assembly, Testing, Marking, and Packaging (ATMP)/Outsourced Semiconductor Assembly and Test (OSAT) facilities. Further, India Semiconductor Mission (ISM) has been established under Digital India Corporation (DIC) to drive India’s strategies for development of semiconductor and display manufacturing ecosystem in the country.
MeitY has also been mandated to promote international cooperation in the emerging and frontier areas of Electronics and Information Technology under bilateral and regional frameworks. With this objective, MeitY has entered into MoUs/MoCs/Agreements with counterpart organizations/agencies of various countries to promote bilateral cooperation and exchange of information and also to ensure supply chain resilience enabling India emerge as trusted partner. Enhancing bilateral collaboration to boost the semiconductor supply chains and leverage complementary strengths to promote collaboration in the field of semiconductors, India and EU signed this MoU which is another step towards mutually beneficial semiconductor related business opportunities and partnerships between India & EU.
Courtesy – Press Information Bureau, Government of India