India, EU Commit To Deepening Tech And Investment Ties Ahead Of FTA Signing

(MENAFN- KNN India) New Delhi, Nov 10 (KNN) India and the European Union (EU) have agreed to deepen cooperation in trade, investment and critical technologies, including semiconductors, quantum computing and biotechnology, ahead of the proposed signing of their free trade agreement (FTA) next month.

The two sides also agreed to work towards concluding the proposed investment protection agreement and the agreement on geographical indications (GIs).

The commitments were discussed at the seventh India-EU Strategic Partnership Review Meeting (SPRM) held in New Delhi on Monday, where both sides reviewed their broader engagement.

A joint statement said,“Both sides reviewed engagements towards boosting trade and investment cooperation, including the timely signing and implementation of the India-EU free trade agreement, and to continue work towards conclusion of the investment protection agreement and the agreement on geographical indications,” PTI reported.

The discussions also covered strengthening supply chains and economic security, as well as cooperation through the Trade and Technology Council (TTC) and the Blue Valleys initiative, it added.

Technology and Research Cooperation

Both sides discussed collaboration in artificial intelligence, quantum technologies, digital public infrastructure, advanced semiconductors, clean technologies and biotechnology.

They also welcomed progress in research cooperation, including India's potential association with Horizon Europe, the EU's EUR 93.5-billion research and innovation programme.

The TTC, launched in 2022, provides a platform for cooperation on critical technologies, including AI, quantum computing, semiconductors and cybersecurity.

Connectivity and Green Transition

“The two sides underscored the importance of strengthening connectivity partnership, including Global Gateway, India-Middle East-Europe Economic Corridor (IMEC) and trilateral projects in clean energy, climate resilience, green mobility and digitalisation,” the press statement noted.

They also agreed to strengthen people-to-people ties through talent mobility, education and skills development, and reviewed progress on the European Legal Gateway Office, it said.

Both sides reaffirmed cooperation on the clean transition, including efforts to include Indian ship recycling yards meeting EU regulations in its list of approved facilities.

(KNN Bureau)

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