First ever EU-India Trade and Technology Council launched

To further deepen cooperation in the field of security, technology and trade, India and the EU on Monday have launched the first EU-India Trade and Technology Council. For India, it is the first time ever to have a mechanism like this with any of its partners and for the European Union this is the second time. The US is the first with which the EU has such a system in place.

The Strategic Coordination mechanism launched at the end of talks between Prime Minister Narendra Modi and President of the European Commission, Ursula von der Leyen, is expected to allow the two partners to deal with the emerging challenges and will help build deeper cooperation between the two sides.

European Commission President Ursula von der Leyen is on a two day visit to strengthen the strategic partnership with India.

In view of the constant change in the geopolitics environment, both India and EU have also agreed to have joint in-depth strategic engagement.

More about Trade and Technology Council

For strengthening strategic partnership which will be beneficial to the people of India and the EU, this is a key step.

With this in place, the two sides expect this to provide the political push and structure which will help to coordinate technical work, report to the political level to ensure implementation, help in operationalising political decisions and also follow up in different areas that are good for the sustainable Indian and European economies.

With both sides celebrating 60 years of diplomatic relations, a joint statement issued states that the two sides have shared values and common interests will be mutually beneficial and deeper strategic cooperation.

According to the joint statement, both sides which are bound by decades of close partnership and through joint efforts are determined to address geopolitical circumstances and to tackle the current global challenges.

The EU President in a tweet highlighted “The EU is India’s 3rd most important trade partner and one of its main investors. And we can do so much more. Our teams will soon begin negotiations on trade and investment agreements.”

Earlier in the day

Prior to her meeting with Prime Minister Modi, the visiting leader met External Affairs Minister Dr S Jaishankar, and both exchanged views on the economic and political implications of the Ukraine conflict.

She also paid tributes to Mahatma Gandhi at Rajghat and told the media persons that Gandhi’s aura has long transcended the borders of his native India.