New Delhi [India], February 28 : The 2nd India - EU Trade and Technology Council meeting was held in the Capital on Friday. The EU-India Trade and Technology Council was launched in February 2023. Its aims are to increase bilateral cooperation, to boost bilateral trade and investment and to capitalise on both parties' strengths to ensure their technological and industrial leadership while preserving their shared values.
EAM S Jaishankar posted on his X account, "Participated in the 2nd India - EU Trade and Technology Council meeting along with my cabinet colleagues Piyush Goyal and Ashwini Vaishnaw. Thank Henna Virkkunen, Executive Vice-President for Tech Sovereignty, Security and Democracy of the European Commission, Maros Sefcovic, Commissioner for Trade and Economic Security as well as Inter Institutional Relations and Transparency and Ekaterina Zaharieva, EU commissioner for Start-ups, Research and innovation for their partnership."
He added, "Took stock of the significant progress made in digital partnership, clean & green energy initiatives and trade, investments & resilient supply chains. Exchanged views on new opportunities in semiconductors, AI, 6G, EVs, Green Hydrogen and a mutually beneficial trade regime. Confident that today's discussions will translate into new economic, trade and tech linkages."
In a Joint Press release in February 2023, India and the EU announced the establishment of the three Working Groups under the India-EU Trade and Technology Council and their Terms of Reference (TTC).
TTC was launched by Prime Minister Narendra Modi and President of the European Commission Ursula von der Leyen during the latter's visit to India in April 2022. The TTC is a strategic coordination mechanism that allows both partners to tackle challenges at the nexus of trade, trusted technology and security, and thus deepen cooperation in these fields between India and the EU.
The TTC with India is only the second such Council for the EU and the first such mechanism for India. The TTC is co-chaired on the Indian side by the Ministers for External Affairs, Commerce and Industry, and Communications, Electronics and Information Technology.
Under the TTC, the following three Working Groups have been established: Working Group on Strategic Technologies, Digital Governance and Digital Connectivity: Chaired by Secretary, Ministry of Electronics and Information Technology. Working Group on Green and Clean Energy Technologies: Chaired by Principal Scientific Adviser to the Government of India and Working Group on Trade, Investment and Resilient Value Chains: Chaired by Secretary, Department of Commerce
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