"The MoU would contribute significantly to strengthening Commercial opportunities in the high tech sector," an official statement said. The Cabinet, chaired by Prime Minister Narendra Modi, approved the MoU between the two countries to enhance innovation ecosystems through an innovation handshake, it said.
Prime Minister Narendra Modi on Friday said India is headed for a robust economy and the country's consumption of semi-conductors is expected to cross USD 110 billion by 2030 and has the world's fastest growing startup eco-system.