President of the European Commission Ursula von der Leyen and Indian Prime Minister Narendra Modi agreed to launch the EU-India Trade and Technology Council at their meeting in New Delhi today. This strategic coordination mechanism will allow both sides to tackle challenges at the nexus of trade, trusted technology and security, and deepen cooperation.
Both sides agreed that rapid changes in the geopolitical environment highlight the need for joint in-depth strategic engagement.
The Trade and Technology Council will provide the political steer and the necessary structure to operationalise political decisions, coordinate technical work, and report to the political level to ensure implementation and follow-up in areas that are important for the sustainable progress of European and Indian economies, both sides said in a joint press release.
The decision to set up such a council will be the first for India with any of its partners and second for the European Union following the first one it has set up with the United States.
Source:Fibre2Fashion News Desk
