EU, India to deepen cooperation on trade and technology

The European Union and India on Tuesday held their first ministerial meeting of the Trade and Technology (TTC) Council in Brussels.

The EU and India have set up the TTC as a coordination platform to address key trade, trusted technology and security challenges, said the European Commission in a statement this evening.

The TTC will help increase EU-India bilateral trade, which is at historical highs, with 120 billion euro (USD 130 billion) worth of goods traded in 2022. In 2022, 17 billion euro (USD 18.4 billion) of digital products and services were traded, it noted.

The meeting was co-chaired by European Commission Executive Vice-Presidents Margrethe Vestager and Valdis Dombrovskis on the EU side, and on the Indian side by Subrahmanyam Jaishankar, Minister of External Affairs; Piyush Goyal, Minister of Commerce and Industry; and Rajeev Chandrasekhar, Minister of State for Skill Development and Entrepreneurship and Electronics and Information Technology.

They were joined by EU High Representative Josep Borrell, as well as EU Commissioner for Internal Market, Thierry Breton.

Source: Kuwait News Agency