India, EU agree to launch Trade and Technology Council to push strategic ties
Prime Minister Narendra Modi and President of the European Commission, Ursula von der Leyen, on Monday agreed to launch the EU-India Trade and Technology Council at their meeting here.
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 a statement by the EU.
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, according to the statement.
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. Establishing the EU-India Trade and Technology Council is a key step towards a strengthened strategic partnership for the benefit of all peoples in the EU and India.