India and EU sign Semiconductor pact

Facts for Prelims

India and EU sign Semiconductor pact

News: Recently, India and the European Union signed a Memorandum of Understanding on semiconductors that will help in building a “robust supply chain” and support innovation.

Background:
• India boasts excellence in semiconductor design however, attention is warranted to bridge the gaps in the manufacturing ecosystem. Strengthening this aspect is crucial for a comprehensive and successful semiconductor strategy in the country.

Key points:
• The MoU facilitates detailed information exchange between India and the EU, focusing on their semiconductor ecosystems, fostering collaborative insights, and knowledge-sharing for mutual development.
• Prioritizing collaboration in critical areas like research, development, and innovation, the agreement involves active participation from universities, research bodies, and businesses in both regions.
• Acknowledging the strategic importance of semiconductors, the MoU aims to address their significance, especially in diversifying global supply chains and reducing dependence on key players like China.