EU, India join hands to promote startups in EV battery recycling sector

New Delhi: To boost the country’s electric vehicle (EV) targets, the European Union (EU) and India on Tuesday joined hands to promote startups working in the field of battery recycling technologies for EVs. The objective is to promote cooperation between European and Indian small and medium-sized enterprises (SMEs) and startups in the clean and green technology sector.

The latest initiative comes under the India-EU Trade and Technology Council (TTC) announced by Prime Minister Narendra Modi and European Commission President Ursula von der Leyen at their meeting in New Delhi in April 2022.

“The match-making event is a step forward in unlocking innovative possibilities leading to a green and circular economy. We encourage EU innovators to take advantage of this opportunity and explore potential collaborations with their Indian counterparts,” said Marc Lemaitre, Director General for Research and Innovation at the European Commission.
As part of the initiative, 12 startups – six each from India and the EU – will be selected and will have the opportunity to pitch during a ‘matchmaking event’ to be held in June. Six finalists (three from the EU and three from India ) will be selected after their presentations and will be given the opportunity to visit India and EU respectively.

“We are dedicated to fostering a collaborative environment where sustainability and innovation form the cornerstone of a prosperous circular economy,” said Professor Ajay Kumar Sood, Principal Scientific Advisor to the government.
The last date for submission of Expression of Interest (EOI) for startups is April 30.

The TTC will help boost EU-India bilateral trade, which is at a historic high with goods trade worth €120 billion in 2022.
Digital products and services worth 17 billion euros will be traded in 2022.