India and the European Union (EU) on April 25 agreed to establish a Trade and Technology Council, a strategic mechanism to address the challenges of ensuring trusted technology and security in the wake of rapid geopolitical changes.
- This move is expected to deepen their strategic relationship.
- This is the first time India has agreed to set up such a trade and technology council with any of its partners.
- For the EU, it is only the second such body, following the first one set up with the US.
- The announcement comes in the backdrop of European Commission President Ursula von der Leyen’s two-day visit to Delhi starting April 24. This was her visit to India in her current role.
Importance and benefits
- This strategic coordination mechanism will allow both partners to tackle challenges at the nexus of trade, trusted technology and security, and thus deepen cooperation in these fields between the EU and India.
- 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.
GS TIMES UPSC PRELIMS & MAINS CURRENT AFFAIRS BASED BASICS DAILY ONLINE TEST CLICK HERE
CLICK HERE DAILY CURRENT AFFAIRS QUIZ FOR STATE CIVIL SERVICES
