India, European Union To Launch Trade And Technology Council

Prime Minister of India, Narendra Modi held talks with President of the European Commission, Ursula von der Leyen in New Delhi on Monday. Both of them agreed to launch the EU-India Trade and Technology Council at their meeting.

“PM Narendra Modi held talks with EU_Commission President Ursula von der Leyen in New Delhi today. They reviewed progress in the vibrant India-EU Strategic Partnership & agreed to deepen cooperation in areas of trade, climate, digital technology and people-to-people ties,” tweeted MEA spokesperson Arindam Baghchi.

A press release by the European Commission read, “This strategic coordination mechanism will allow both partners to tackle challenges at the nexus of trade, trusted technology and security, and thus deepen cooperation in these fields between the EU and India.”

According to the press release, both sides agreed that rapid changes in the geopolitical environment highlight the need for joint in-depth strategic engagement.

“The Trade and Technology Council will provide the political steer and the necessary structure to operationalise political decisions, coordinate technical work, and report to the political level to ensure implementation and follow-up in areas that are important for the sustainable progress of European and Indian economies,” read the statement.

The press release stated that the decision to set up a Trade and Technology Council will be the first for India with any of its partners and second for the European Union following the first one it has set up with the US.