“India & EU Converge: Promising Tech & Trade Ties to Redefine Digital Governance” (Let me know if you want me to make any changes!)
India, EU Vow to Collaborate on Strategic Tech, Green Energy, and Trade
In a bid to strengthen bilateral ties, India and the European Union (EU) have agreed to work together on three key areas: strategic technologies, clean and green technologies, and trade, investment, and resilient value chains.
The agreement was reached during the second meeting of the EU-India Trade and Technology Council (TTC) in April 2022, established by European Commission President Ursula von der Leyen and Indian Prime Minister Narendra Modi. The council aims to address challenges at the confluence of trade, trusted technology, and security.
Strategic Technologies, Digital Governance, and Digital Connectivity
Both sides have committed to leveraging their respective strengths to accelerate a human-centric digital transformation and development of advanced and trustworthy digital technologies such as Artificial Intelligence (AI), semiconductors, High-Performance Computing, and 6G. The goal is to benefit both economies and societies.
The EU and India have also emphasized the need to strengthen the resilience of semiconductor supply chains and promote collaboration. To achieve this, they have agreed to explore joint research and development in the fields of chip design, heterogeneous integration, sustainable semiconductor technologies, and technology development for advanced processes for process design kits (PDK).
Clean and Green Technologies
The two sides have agreed to cooperate on joint research in the areas of recycling batteries for electric vehicles (EVs), marine plastic litter, and waste-to-hydrogen. The joint budget for these initiatives is estimated to be around EUR 60 million, with a contribution from the Horizon Europe program and matching Indian funds.
Additionally, they have agreed to explore cooperation on harmonizing standards for EV charging infrastructure, including cooperative, pre-normative research, and knowledge exchange in e-mobility.
Trade, Investment, and Resilient Value Chains
Both sides have committed to fostering resilient and future-ready value chains by prioritizing transparency, predictability, diversification, security, and sustainability. They have also discussed the challenges posed by the implementation of the EU’s carbon border mechanism, particularly for small and medium-sized enterprises (SMEs).
To address these challenges, the EU and India have agreed to continue working together to develop solutions that benefit both parties.
Next Steps
The two sides have agreed to meet again for the third meeting of the EU-India TTC within the next year to review progress and discuss new areas of cooperation.
As the global economy continues to evolve, the EU-India partnership is likely to play a significant role in shaping the future of trade, technology, and sustainability. The agreement reached by the two sides is a step in the right direction, promising to benefit both economies and contribute to a more stable and prosperous world.
Source: 1
Original Source: https://indianexpress.com/article/india/digital-governance-to-tech-trade-india-eu-vow-to-work-together-9862202/
Category : India
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Publish Date: 2025-03-01 04:22:00
