India EU agree to promote start-up collaboration on recycling of e-vehicles batteries

New Delhi: The European Union (EU) and India on launched agreed to promote start-up collaboration on Recycling of E-Vehicles Batteries for the protection of environemnt from e-waste and to promote the circular economy.

This initiative takes place under the India-EU Trade and Technology Council (TTC). On April 22, Prime Minister Narendra Modi and Ms Ursula von der Leyen President of the European Commission had announced the initative in NeW Delhi.

It aims to enhance the cooperation between European and Indian SMEs and start-ups in the clean and green technologies sector.

The intended exchange of knowledge and expertise will be instrumental in advancing the circularity of rare materials and transitioning towards carbon-neutrality in both India and the EU.

Funded by the EU and supported by the Office of the Principal Scientific Adviser to the Government of India, the proposed matchmaking initiative seeks to facilitate cooperation and partnerships between solution providers and adopters from both regions.

Twelve startups from Europe and India (six each) will be selected and get a pitching opportunity during a joint EU-India matchmaking event in June 2024.

The online event will take place in the presence of Professor Ajay Kumar Sood, the Principal Scientific Adviser to the Government of India, and Mr. Marc Lemaître, Director-General for Research and Innovation at the European Commission.

Six finalists (3 from the EU and 3 from India) out of the twelve shortlisted candidates will be selected following their pitching presentations in the matchmaking events.

The six EU and Indian selected start-ups will be awarded with a visit to India and the EU respectively, to explore market opportunities with their counterparts.

Making comments on the initative, Prof. Ajay Kumar Sood said, “Our objective is to harmonize efforts with EU innovators to jointly develop battery recycling solutions that drive industry expansion. We are dedicated to fostering a collaborative environment where sustainability and innovation form the cornerstone of a flourishing circular economy.”

Marc Lemaitre said,”The matchmaking event is a step-ahead to unlock innovative possibilities leading to a green and circular economy. We encourage innovators from the EU to seize this opportunity and explore potential collaborations with their Indian counterparts.”

“It reflects the shared and deep commitment of India and the EU to a sustainable and greener future. The event is part of a broader effort to promote innovation and forge stronger economic relations under the India-EU Trade and Technology Council. It is my belief that this initiative will be a foundation stone for many more collaborations between India and the EU” Saurabh Kumar Ambassador of India to European Union said.

The TTC is a key forum to deepen the strategic partnership on trade and technology between the two partners.

It will help increase EU-India bilateral trade, which is at historical highs, with €120 billion worth of goods traded in 2022. In 2022, €17 billion of digital products and services were traded.