India and EU to Sign Landmark Trade Deal for 2 Billion People
- India and the EU reviewed their Strategic Partnership in New Delhi.
- A landmark free-trade agreement is expected to be signed next month.
- Both sides are boosting cooperation in quantum, semiconductors, and biotech.
- India has finalized an association with the Horizon Europe research program.
The two sides committed to increase collaboration in quantum technologies, semiconductors, and biotechnology.
This meeting serves as preparation for a free-trade agreement expected to be signed next month. The proposed pact is described as the "mother of all deals" and would create a market of two billion people.
Commitment to investment and geographical indications pacts
Both parties agreed to work toward concluding a proposed investment protection treaty. They also committed to finalising a separate pact regarding geographical indications.
Technology and digital infrastructure cooperation
During the recent Strategic Partnership Review Meeting, both sides expanded these discussions to include clean technologies and biotechnology.
India and the European Union have resolved to cooperate in creating a supportive digital environment and advancing digital public infrastructure. These technology discussions are part of a broader effort to strengthen ties in investment and supply chains as the two sides prepare to finalise a major trade agreement.
Association with Horizon Europe research program
India and the European Union have finalised an association with the Horizon Europe programme to broaden their collaboration in research and technology. This agreement allows researchers from both sides to access funds from the programme.
Negotiations for this primary research and innovation programme were completed ahead of a visit by Prime Minister Modi. The association is part of a comprehensive strategic agenda for the next five years.
Strengthening connectivity and global governance
India and the EU underscored the importance of strengthening the connectivity partnership. This includes the Global Gateway programme and the India-Middle East-Europe Economic Corridor.
Both parties also pledged to improve coordination and cooperation to shape effective global governance.
Clean transition and infrastructure standards
Both sides renewed commitments to advance the clean transition. They are cooperating to include Indian ship-recycling yards that comply with the EU Regulation on Ship Recycling in the EU’s list of facilities.
India is moving infrastructure development into mountainous, geologically complex, and densely urban areas. This increases the demand for tunnelling and underground construction under challenging conditions.
Economic projections and regional trade impact
Projections suggest that a trade deal between India and the EU could generate an additional €119 billion by 2035.
There is concern that this potential trade deal could impact the export competitiveness of Sri Lanka.
Preparations for future leaders-level meetings
The recent discussions was a review of preparations for future leaders-level meetings.
The community mentioned has over 2 million industry professionals.
Frequently Asked Questions
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