India-EU Strategic Trade and Investment Framework

On 18-19th January 2025, Commerce Minister and EU Trade Commissioner held a high-level meeting to shape a new India-EU strategic trade and investment framework.

Key Points

Mutual Values: Build an economic partnership based on shared values like democracy and rule of law, integrating a $24 trillion market.
Fair Trade Agenda: Address tariff and non-tariff barriers to benefit businesses, especially SMEs, farmers, and fishermen.
High-Quality Standards: Align with the “zero defect, zero effect” initiative through harmonization of standards and mutual best practices.
Resilient Supply Chains: Develop technologies, secure critical raw materials, and reduce dependency on non-market economies.
Sustainable Development: Promote trade with an emphasis on sustainable development and common but differentiated responsibility.
Innovation and Youth: Leverage India’s talent pool and technological advancements to act as a bridge for mutual growth.
FTA Roadmap: Both sides committed to expediting negotiations for a robust Free Trade Agreement (FTA) to meet global challenges.
TTC Review: Progress in the India-EU Trade and Technology Council (TTC) was reviewed, and a roadmap for continuous consultations was laid out.
Collaborative Effort: The meeting emphasized addressing legacy issues and strengthening ties through ministerial and senior official consultations.