India-EU: Joint Press Release on Launching the Trade and Technology Council

Prime Minister of India Shri Narendra Modi and President of the European Commission Ms Ursula von der Leyen agreed to launch the India-EU Trade and Technology Council at their meeting in New Delhi on Monday, 25 April 2022. 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.

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 Indian and European economies.

Even as both sides celebrate the 60th anniversary of the establishment of diplomatic relations, both sides are confident that the shared values and common interests of India and the EU offer a strong basis to intensify mutually beneficial and deepen strategic cooperation. India and the EU are bound by decades of close partnership and are determined to increase joint efforts to tackle current challenges and address geopolitical circumstances. 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 EU following the first one it has set up with the US. Establishing the India-EU Trade and Technology Council is a key step towards a strengthened strategic partnership for the benefit of all peoples in India and the EU.

MEA