Recently, India and the European Union (EU) reached an agreement to renew their existing Agreement on Scientific Cooperation. Approved at the 15th India-EU Summit, this renewed cooperation is set to extend for the next five years spanning from 2020 to 2025.
The European Union
The European Union, an international organization of 27 European nations, collaboratively manages common economic, social, and security policies. The organization came into existence with the Maastricht Treaty, which was enacted on November 1, 1993. Designed to bolster European political and economic integration, the treaty established a single currency (the euro), a unified foreign and security policy, as well as mutual citizenship rights. Furthermore, it propelled cooperation in immigration, asylum, and judicial affairs.
Key Factors of the Renewed Agreement on Scientific Cooperation
The renewed cooperation between India and EU will boost collaborations in research and innovation based on principles of mutual benefit and reciprocity. The previous India-EU Agreement on Science and Technology, which lapsed on May 17, 2020, has served as a blueprint for this renewed agreement. Both parties are ready to initiate the renewal procedure and are celebrating 20 years of cooperative efforts in research and innovation.
Significance of the Renewed Agreement
This revived agreement will enhance research and innovation cooperation in diverse fields such as Water, Energy, Healthcare, Agritech & Bioeconomy, Integrated Cyber-Physical Systems, Information and Communication Technologies, Nanotechnology, and clean technologies. Additionally, it will solidify institutional connections in research, foster researcher, student, and startup exchanges, and attract resources’ co-investment for knowledge co-generation.
India-EU Science and Technology Cooperation Background
The India-EU Science & Technology Steering Committee annually reviews scientific cooperation between the two entities. The Ministry of Earth Sciences (MoES) and the European Commission (EC) jointly support research projects under the European Research & Innovation Framework Program ‘Horizon 2020’ related to climate change and polar research.
Space Technology Cooperation
India’s Space Research Organisation (ISRO) has been engaging with the European Union since the 1970s. ISRO is currently working with the European Space Agency to augment cooperation in earth observation, a collaboration that incorporates the Copernicus program signed in 2018.
Evolution of Diplomatic Relations between India and EU
India established diplomatic relations with the European Economic Community in 1962, making it one of the first countries to do so. The first India-EU Summit took place in Lisbon, Portugal, in 2000. Since then, fifteen annual bilateral Summits have been held between India and the EU. The relationship was elevated to a ‘Strategic Partnership’ during the 5th India-EU Summit held at the Hague, Netherlands, in 2004.
Trade and Investments
Between India and EU, a broad range of issues are discussed including trade, energy security, science & research, non-proliferation and disarmament, counter-terrorism, cyber security, etc. As of 2018, the EU was India’s largest trading partner while India was EU’s 9th largest trading partner. Moreover, the EU is the primary source of Foreign Direct Investment (FDI) into India. The FDI equity flows from EU countries into India from April 2000 to June 2018 were $ 90.7 billion, which constitutes about 24% of the total FDI inflows to India.
The Way Forward
Given the increasing strategic rivalry between the USA and China, India and the EU stand as ideal partners to create an impact in the international environment. Both parties have a vested interest in preventing a bipolar world and further developing a rules-based international order. The aim is to continue to enhance the India-EU partnership and provide a new model for today’s international relations.
