India and the European Union (EU) have signed a memorandum of understanding (MoU) on semiconductors, setting a goal to establish a robust supply chain, promote innovation, and align both the regions in developments in the semiconductor industry, an Indian government official said on Tuesday, November 28.
Under the terms of the MoU, India and the EU will engage in the exchange of experiences, best practices, and information related to their respective semiconductor ecosystems. This collaborative approach is envisioned to enhance mutual understanding and cooperation between the two regions, the official said.
The agreement emphasizes the identification of areas for collaboration in research, development and innovation among universities, research organizations, and businesses.
By fostering joint efforts in these crucial domains, India and the EU aim to propel advancements in semiconductor technology and contribute to the global digital landscape, according to the text of the MoU.
The agreement reinforces the commitment to ensuring a level playing field in the semiconductor sector. A key aspect involves the sharing of information on granted public subsidies, fostering transparency, and promoting fair competition. This measure is crucial in maintaining a healthy and competitive semiconductor industry landscape, according to the MoU.