- The India-EU Trade and Technology Council (TTC) was jointly established by the European Union (EU) and India.
- The council aims to focus on investment, trade, value chains, clean technology, and the digital economy.
- The council will allow both parties to address strategic challenges in trusted technologies, trade, and security.
Establishment of Three Working Groups
- Under the TTC, three working groups have been established with the focus on strategic technologies, digital governance, and digital connectivity; green and clean energy technologies; and trade, investment, and resilient value chains.
- The working groups will prepare for the TTC meeting, which is expected to take place before the next bilateral summit between India and the EU.
- The working groups have been established as follows: i) Strategic Technologies, Digital Governance, and Digital Connectivity Chaired by Secretary, Ministry of Electronics and Information Technology ii) Green & Clean Energy Technologies Chaired by Principal Scientific Adviser to the Government of India iii) Trade, Investment, & Resilient Value Chains Chaired by Secretary, Department of Commerce.
Co-Chairs
- The TTC will be co-chaired on the Indian side by the Ministers for External Affairs; Commerce & Industry; and Communications, Electronics & Information Technology.
- On the EU side, it will be co-chaired by Executive Vice-Presidents Margrethe Vestager and Valdis Dombrovskis.
Working Group Themes
- Strategic technologies, digital governance and digital connectivity: areas of mutual interest such as digital connectivity, Artificial Intelligence, 5G/6G, high performance and quantum computing, semiconductors, cloud systems, cybersecurity, digital skills and digital platforms.
- Green & clean energy technologies: green technologies, including investment and standards, with emphasis on research and innovation such as clean energy, circular economy, waste management, plastic and litter in the ocean.
- Trade, investment, and resilient value chains: resilience of supply chains and access to critical components, energy, and raw materials.
Next Steps
- Ministerial meetings of the TTC will take place at least once a year, with the venue alternating between the EU and India.
- The first EU-India ministerial meeting is planned to be held in spring 2023.
Background
- The partnership between the EU and India is one of the most important relationships for the upcoming decade, and the TTC will strengthen this partnership.
- The TTC will complement the Digital Partnerships already launched with Asian partners as part of the EU Strategy for Cooperation in the Indo-Pacific.
- The establishment of the India-EU Trade and Technology Council is an important step in deepening the strategic engagement between both partners on trade and technology.
- The three working groups will work on key issues of shared strategic importance and unlock potential through cooperation on research and innovation.