India said on Sunday it would work with the European Union (EU) to reduce dependence on non-market economies, develop cutting-edge technologies, secure supplies of critical raw materials and build supply chains. resilient supply.
During his first meeting in Brussels with the European Commissioner for Trade and Economic Security, Maroš Šefcovic, Minister of Trade and Industry Piyush Goyal also outlined five other principles for mutual economic growth and established a framework for a stronger partnership.
With a focus on reducing dependence on the non-market economy, which indirectly involves China, both sides appear to be seeking alternative partners as the Chinese government adopts an aggressive posture on trade and announces restrictions on exports of critical minerals and technologies.
Three Israeli hostages transferred to Israeli army after Hamas agreement
Budget 2025: Railway investments for FY26 could be pegged at Rs 2.9 L crore
New airports struggle to attract travelers as airlines withdraw
Indian exports of petroleum products increased by 2% in April-December
The two sides also agreed to accelerate negotiations on the Free Trade Agreement (FTA), which has been underway since June 2022. Goyal said India would develop a commercially meaningful trade agenda with the EU, which is fair and equitable, addressing customs duties and non-customs duties. -tariff barriers thanks to simplification and cost competitiveness.
The two leaders also reviewed the progress made in the Trade and Investment Group of the India-EU Trade and Technology Council and agreed to resolve legacy issues.
About The Author
