EU-India Trade and Technology Council
The European Union and India have agreed to establish a Trade and Technology Council with the aim of addressing the challenges to ensure security and trusted technology keeping in line with rapid geopolitical changes.
- The decision of setting up such a council is a first for India with any of its partner nations.
- The European Union had already set up such a council with the US with India being the second one.
- The agreement to form this council was reached at a meeting held between Prime Minister Narendra Modi and Ursula von der Leyen, European Commission president.
- Both leaders also discussed the status of trade talks, with India and the European Union resuming talks to reach a comprehensive free trade agreement as well as an investment agreement.
Need for Trade and Technology Council
Both sides have agreed that there are rapid ongoing changes in the geopolitical environment across the world and this calls for a joint in-depth strategic engagement. The Trade and Technology Council will be providing the necessary structure that will be needed to coordinate technical work, operationalize political decisions, and report to the political level so as to ensure implementing and following up in the sectors that are important for the sustainable development of both economies.
Category: India Nation & States Current Affairs
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