"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,"
"It offers the opportunity to strengthen ties in areas such as semiconductors, water, clean energy, and more,"
"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."
"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 cooperation in trade, investment, defense, and semiconductors. The visit is linked to momentum from the India-EU free trade agreement, which is expected to boost trade and investment relations. Modi said the trip offers opportunities to expand cooperation in semiconductors, water, and clean energy. India is working to shift from being primarily a buyer of technology to producing critical technologies with Western partners. This strategy includes diversifying supply chains beyond China after COVID-19 disruptions and recent global conflicts. India launched domestic chipmaking in 2021 under Make in India and has 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 seeks to finalize an EU free trade agreement.
#india-netherlands-relations #india-eu-free-trade-agreement #semiconductors #trade-and-investment #supply-chain-diversification
Read at www.dw.com
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