"“This visit to the Netherlands is taking place at a time when the free trade agreement between India and the EU has given a significant boost to trade and investment relations,” Modi said on X, posting pictures of him being welcomed in Amsterdam on Friday evening. “It offers the opportunity to strengthen ties in areas such as semiconductors, water, clean energy, and more,” he said."
"India has ramped up efforts to alter its global position as a buyer of technology to producing critical tech in collaboration with Western partners. The approach is part of New Delhi's decision to diversifybeyond China-centric supply chains after the disruptions seen during the COVID-19 pandemic and the recent global conflicts."
"India first launched domestic chipmaking in 2021 under the “Make in India” initiative and has since expanded on the strategy by approving several projects. Modi has previously spoken about his ambitions of “making India a leader in the global semiconductor value chain.”"
"In response to a reporter's question about the pending FTA agreement, a foreign ministry spokesperson said, “That is a priority. We are working with the European Union to have it agreed to at the earliest. So we will be, please keep tuned in for an immediate outcome coming up.”"
Narendra Modi arrived in the Netherlands for a two-day visit focused on strengthening bilateral ties in trade, investment, defense, and semiconductors. The visit coincides with a boost to trade and investment relations following the India-EU free trade agreement. Modi said the trip offers opportunities to expand cooperation in semiconductors, water, and clean energy. India is increasing efforts to shift from being primarily a technology buyer to producing critical technologies with Western partners. The strategy supports diversification away from China-centric supply chains after COVID-19 disruptions and recent global conflicts. India launched domestic chipmaking in 2021 under Make in India and approved additional projects, aiming to lead in the global semiconductor value chain. The Netherlands is also India’s largest export destination in Europe, as India works to finalize the EU free trade agreement.
#india-netherlands-relations #india-eu-free-trade-agreement #semiconductors-and-chipmaking #trade-and-investment #clean-energy-and-water
Read at www.dw.com
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