Trade between the EU and India in the last decade has been just as impressive, said Šefčovič. “Trade between India and the EU has increased 90% over the past decade. I think you can barely find the bilateral economic relationship that increases so quickly and has so much cooperation potential,” he said.
Šefčovič also alluded to future synergies between the two parties that would stimulate technological progress, improve supply chains and speed up innovation. “The automotive sector is fueling our two economies, and I think it will be at the center of the partnership,” he said.
Šefčovič also invoked Karl Benz, the German car inventor, who said: “The love of inventing ever dies.” The European expertise in engineering and green technology, combined with the growth and manufacturing capacities of India, offers a unique mix that can promote growth, create jobs and promote sustainability in both regions, he added.
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