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Source– This post on “EU-India start-up collaboration on Recycling of E-Vehicles Batteries” is based on the article “EU-India join forces to promote start-up collaboration on Recycling of E-Vehicles Batteries under Trade and Technology Council” published in “PIB” on 10th April 2024.
Why in the News?
Recently, the European Union (EU) and India launched an Expression of Interest (EoI) for startups working in Battery Recycling Technologies for Electric Vehicles (EVs) for a matchmaking event.
About the EU-India Battery Recycling Technologies Matchmaking Event
1. About: It is a short-term action under Working Group 2 on Green and Clean Energy Technologies.
a) This initiative was announced by India and the European Commission in 2022. The event is scheduled for June 2024.
b) Twelve innovators (six from India, six from the EU) will pitch their solutions.
c) Six finalists (three from each region) will be selected for further opportunities, including visits to India and the EU.
2. Co-chaired: It is being co-chaired from the Indian side by the Office of the Principal Scientific Adviser to the Government of India and from the EU side by the Directorate-General for Research and Innovation of the European Commission.
3. Purpose: To enhance cooperation between EU and Indian SMEs and startups in clean and green technologies, focusing on battery recycling for EVs.
4. Objectives:
a) Identifying and promoting startups/SMEs specializing in EV battery recycling technologies.
b) To facilitate cooperation, deepen customer relations, and explore trade and investment avenues.
5. Significance for India and the EU:
a) Sustainable Development: The initiative is aligned with global efforts towards sustainability and the efficient use of resources through advanced recycling technologies.
b) Economic Relations: The initiative strengthens economic ties between India and the EU through collaborative innovation and shared technological advancements.
c) Circular Economy: It also enhances the lifecycle of rare materials and supports both regions’ transitions towards carbon neutrality.
About the Trade and Technology Council
1. The India-EU Trade and Technology Council (TTC) was officially set up on February 6, 2023 by India and the EU.
2. The TTC stands as a principal forum for strengthening the strategic alliance between India and the EU, particularly in trade and technology.
3. The India-EU TTC is organized into three main Working Groups:
(i) Working Group 1: It focuses on Strategic Technologies, Digital Governance, and Digital Connectivity.
(ii) Working Group 2: It is dedicated to Green and Clean Energy Technologies.
(iii) Working Group 3: It targets Trade, Investment, and Resilient Value Chains.
UPSC Syllabus: International relations
