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EU has come to an agreement on a deal with India for an EU Trade and Tech Council in recent times. It is set up to be the first trade and tech council for India with Europe. The Indian Prime Minister, Narendra Modi, and the President of the European Commission, Ursula von der Leyen, have struck a deal to launch the India-EU Trade and Tech Council this week. Let's dig deep into how effective this EU Trade and Tech Council will be with India and is Europe ready to share its cutting-edge technology with India in the nearby future.
There is a rapid technological change across the world with the advent of cutting-edge technologies like artificial intelligence, cloud computing, data science, and many more. the main aim of this EU Trade and Tech Council is to deepen strategies and secure trade from multiple external troubles such as steering through operationalizing political decisions and so on. EU and India will make sure to ensure implementation and follow-up in areas crucial for the sustainable progress of the economies of both countries.
EU has stated that India is suitable for this EU Trade and Tech Council, after the US, because it is technologically a powerhouse with enormous untapped potential in the trade sector. This deal will help in addressing the challenges because Europe and India share the common values and interests to offer a strong base to intensify mutually beneficial as well as deeper strategic cooperation.
The EU Trade and Tech Council with India is a key step towards strengthening the old-age partnership between Europe and India. It is focused on three key elements— trade, technology, and security between two countries. The main concern is whether Europe is ready to share its sufficient technology with India at the right time. This partnership will help to expand the use of clean energy.
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