New Delhi: The second India-EU Trade and Technology Council (TTC) meeting took place in New Delhi on February 28, following the arrival of European Commission President Ursula von der Leyen in India.
The meeting was co-chaired by India’s External Affairs Minister S. Jaishankar, Commerce and Industry Minister Piyush Goyal, and Minister for Electronics and Information Technology Ashwini Vaishnaw. On the European Union side, it was co-chaired by Henna Virkkunen, Executive Vice-President for Tech Sovereignty, Security and Democracy; Maros Sefcovic, Commissioner for Trade and Economic Security, Interinstitutional Relations and Transparency; and Ekaterina Zaharieva, Commissioner for Start-ups, Research and Innovation, according to the joint statement released after the event.
The India-EU TTC was established in April 2022 by Prime Minister Narendra Modi and European Commission President Ursula von der Leyen to serve as a crucial platform for addressing challenges at the intersection of trade, trusted technology, and security. As two large democracies with open market economies and shared values, India and the European Union are natural partners in a multipolar world.
The meeting underscored the growing strategic convergence between the EU and India in response to shifting global geopolitical dynamics. Both sides reiterated their commitment to promoting global stability, economic security, and sustainable, inclusive growth. They also emphasized the importance of a rules-based international order and the need for full respect for sovereignty, territorial integrity, transparency, and the peaceful resolution of disputes.
The TTC highlights the mutual recognition of the critical interconnections between trade and technology, and the potential of this cooperation to boost both economies. The partnership is seen as pivotal for increasing resilience, enhancing connectivity, and advancing the development of green and clean technologies.
The first India-EU TTC meeting was held in Brussels on May 16, 2023, providing political guidance for the way forward. A subsequent stock-taking meeting held virtually on November 24, 2023, reviewed the progress made by the three TTC working groups, the press release concluded.
