CURRENT AFFAIRS
CURRENT AFFAIRS
Description
The European Union (EU) and India have formed a collaboration to support companies in the field of electric vehicle (EV) battery recycling. This effort is a direct result of the India-EU Trade and Technology Council (TTC) announcement in April 2022, which aims to strengthen collaboration in clean and green technologies.
Matchmaking For Startups: Fostering Collaboration
Under the TTC framework, both regions have issued expressions of interest for firms specializing in electric vehicle battery recycling. This matchmaking event aims to foster collaboration between European and Indian startups, promote knowledge sharing, and advance circularity in rare materials.
Pitching Opportunities And The Selection Process
Twelve startups, six from each region, will be chosen to present their technologies at the matchmaking event in June 2024. Following these presentations, six finalists (three from each region) will be selected to study business prospects in India and the EU, respectively.
Statements From Key Figures
Marc Lemaitre of the European Commission emphasizes the importance of unleashing new opportunities for a green and circular economy, pushing EU inventors to work with their Indian counterparts.
Professor Ajay Kumar Sood, Government of India, Emphasizes the commitment to supporting sustainability and innovation for a thriving circular economy.
Deadline And Impact
The deadline for submitting expressions of interest is April 30, which allows companies to participate in this joint project. The TTC intends to boost bilateral trade between the EU and India by harnessing innovation in clean energy technologies.
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