India-EU Economic Partnership
India is collaborating with the European Union to develop advanced technologies and ensure the security of critical raw material supply chains, strengthening economic bonds.
Key Initiatives
- Partnership aims to develop cutting-edge technologies and secure raw material supply chains, enhancing economic ties.
- Engagement includes a commercially meaningful trade agenda addressing both tariff and non-tariff barriers.
- Focus on developing resilient supply chains and reducing dependencies on non-market economies.
Trade and Investment Agreement
- Efforts to create a mutually beneficial Free Trade Agreement (FTA) with the EU.
- Political directives to expedite a robust FTA and address global challenges.
- Continuous consultations planned between senior officials and at ministerial levels.
Sustainable Development Cooperation
- Discussions on trade and sustainable development based on common but differentiated responsibilities.
- Addressing legacy issues and enhancing cooperation through the India-EU Trade and Technology Council (TTC).
Sustainability Concerns
India has raised concerns over the EU’s sustainability measures like the Carbon Border Adjustment Mechanism and Deforestation Regulation, citing them as non-tariff barriers.
Strategic Discussions
With nine rounds of negotiations completed, strategic political guidance is deemed necessary for concluding a commercially significant FTA, considering each side's sensitivities.