Nov 25: A virtual meeting of India – EU Trade and Technology Council (TTC) was held on 24 November 2023. The meeting was co-chaired on the Indian side by External Affairs Minister (EAM) Dr. S. Jaishankar, Minister of Commerce & Industry (CIM) Shri. Piyush Goyal and Minister of Electronics and Information Technology (MEITY) Shri. Ashwini Vaishnaw. Executive Vice-President Mr Valdis Dombrovskis and Vice-President Ms Vera Jourova chaired the meeting from the European side.
2.The TTC was launched by Prime Minister Shri Narendra Modi and President of the European Commission Ms Ursula von der Leyen during the latter’s visit to India in April 2022. The inaugural Ministerial meeting of TTC was held in Brussels on 16 May 2023, where all three working groups under TTC set out their cooperation on a wide range of issues including semiconductors, high-performance computing, digital public infrastructures, clean energy technologies, supply chain resilience and trade issues.
3.During the virtual meeting, the co-chairs reviewed the progress achieved in the working groups since the first Ministerial meeting and also discussed the future action plans of these working groups. The co-chairs provided strategic guidance to the Working Groups on Strategic technologies and Digital connectivity; Clean and Green energy technologies; and Trade, Investment and Resilient Supply chains; towards achieving the objectives set out for TTC during its establishment at the highest levels.
4.The co–chairs expressed satisfaction at the progress achieved in the Working groups to date, particularly in the areas of Semiconductors, High-performance Computing, Digital Public Infrastructures, EV batteries and their recycling, waste to energy, Resilient supply chains and FDI screening. The co–chairs stressed taking the collaboration through research and innovation to the next phase of implementation in terms of practical outcomes/projects, through more intensive stakeholder consultations before the next TTC meeting and India – EU Summit.
4. A Memorandum of Understanding (MoU) on semiconductors between India and the EU was also signed ahead of the TTC Meeting. The MoU was signed by Shri. Ashwini Vaishnaw, Hon’ble Minister of Electronics, IT & Communications and Thierry Breton, European Commissioner for Internal Markets. The MoU aims at increasing the resilience of the semiconductor value chain in India and the EU and covers cooperation in wide areas covering research and innovation, talent development, partnerships and exchange of market information. The MoU symbolizes the strong commitment between India and the EU to work towards building robust semiconductor supply chains and work together on innovation.
Both sides agreed to hold the next meeting of the TTC in India back – back with the India – EU Summit at a mutually convenient date early next year.
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