Mumbai (Maharashtra) [India], March 1 : Union Commerce and Industry Minister Piyush Goyal on Saturday held a meeting with Maros Sefcovic, European Union Commissioner for Trade and Economic Security with the discussions focused on accelerating efforts towards a balanced and mutually beneficial Free Trade Agreement between India and European Union.
"Had a productive meeting with EU Commissioner for Trade & Economic Security @MarosSefcovic , along with officials from both sides," Goyal said in a post on X.
"Our discussions focused on accelerating efforts towards a balanced and mutually beneficial Free Trade Agreement. Looking forward to deepening economic ties and fostering a prosperous India-EU partnership," he added.
The second meeting of the India-EU Trade and Technology Council (TTC) took place in New Delhi on February 28.
It was co-chaired on the Indian side by India's External Affairs Minister S Jaishankar, Piyush Goyal and Minister for Electronics and Information Technology Ashwini Vaishnaw.
Executive Vice-President for Tech Sovereignty, Security and Democracy Henna Virkkunen, Commissioner for Trade and Economic Security, Interinstitutional Relations and Transparency Maros Sefcovic and Commissioner for Startups, Research and Innovation Ms Ekaterina Zaharieva co-chaired on the EU side.
Prime Minister Narendra Modi and European Commission President Ursula von der Leyen had established the India-EU TTC in April 2022 as a key bilateral platform to address challenges at the confluence of trade, trusted technology and security. India and the European Union, as two large and vibrant democracies with open market economies, shared values and pluralistic societies, are natural partners in a multipolar world.
The deepening of bilateral relations and the growing strategic convergence between the EU and India respond to the shifting dynamics of the global geopolitical landscape and a common interest in promoting global stability, economic security, and sustainable and inclusive growth, a joint statement said after the meeting.
In that respect, both sides emphasized the importance of the rules-based international order and the full respect for the principles of sovereignty, territorial integrity, transparency, and peaceful resolution of disputes.
"The TTC reflects a shared acknowledgement between the EU and India of the increasingly critical links between trade and technology, the potential of cooperation on these issues to enhance the economies of both partners, and the need to work together on the related security challenges. Both sides note the potential of their partnership to increase resilience, strengthen connectivity and drive forward the development of green and clean technologies," the release said.
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