India-EU TTC backs semiconductor partnership, deep

India-EU TTC backs semiconductor partnership, deep-tech startups; Goyal says FTA expected later this year

India and the European Union have agreed to deepen cooperation in semiconductors, artificial intelligence, electric vehicle charging technologies and deep-tech startups under the third meeting of the India-EU Trade and Technology Council (TTC), while Commerce and Industry Minister Piyush Goyal said both sides are working towards signing the India-EU Free Trade Agreement (FTA) later this year.

In a joint statement issued after the meeting, the two sides reaffirmed their commitment to building resilient and trusted semiconductor supply chains. They agreed to organise a joint India-EU roundtable during Semicon India 2026, strengthen collaboration in semiconductor research and capacity building, and facilitate investments across semiconductor, electronics, advanced manufacturing, materials and critical minerals.

The statement added that India and the EU will also explore collaboration between semiconductor design facilities under the India Semiconductor Mission and pilot lines under the EU Chips Act to improve access to advanced process design kits and cost-effective silicon prototyping.

The two sides also agreed to establish the first India-EU Innovation Hub focused on electric vehicle charging technologies and testing. The initiative, to be led by the European Commission's Joint Research Centre and the Automotive Research Association of India, aims to connect research institutions, testing infrastructure, standards bodies and startup ecosystems from both regions.

To boost innovation, India and the EU will launch a Deep-Tech Startup Partnership involving the European Innovation Council and Startup India to support cross-border market access and commercialisation for startups, the joint statement said.

On digital cooperation, both sides agreed to continue work on interoperability of digital trust services, e-signatures and digital identity wallets. They will also explore a pilot linking the EU Digital Identity Wallet with India's DigiLocker based on mutually agreed use cases.

The two sides also agreed to strengthen cooperation in artificial intelligence, high-performance computing, quantum technologies, skilled ICT workforce mobility, and next-generation telecom and 6G standards.

On trade, India and the EU agreed to hold the India-EU Business Forum annually and organise regular sector-specific industry interactions.

Addressing a joint press briefing, Goyal said the TTC has become an important pillar of India-EU engagement and has made tangible progress, including a work programme on foreign direct investment screening to facilitate investment flows.

"Both the EU and India are committed to de-risking our dependencies in critical areas and building reliable and diversified supply chains," Goyal said.

He added that the TTC and the proposed FTA are "mutually reinforcing instruments", with the council helping operationalise areas that will support implementation of the trade pact.

"We look forward to signing the India-EU FTA later this year," Goyal said.

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Find the best of Al News in one place, specially curated for you every weekend.

Stay on top of the latest tech trends and biggest startup news.