Minister Piyush Goyal to co-chair 1st India-EU TTC meet

15 May '23

2 min read

Indian minister Piyush Goyal (L) and European Commission executive vice president Valdis Dombrovskis. Pic: Twitter | Piyush Goyal

Insights

The first India-EU Trade and Technology Council (TTC) ministerial meeting will take place in Brussels on May 16, 2023, co-chaired by Union minister Piyush Goyal.
The meeting will outline cooperation in strategic technologies, digital governance, green energy, and trade.
TTC, announced in 2022, aims to address trade, technology, and security challenges.

The first ministerial meeting of the India-European Union (EU) Trade and Technology Council (TTC) is set to take place in Brussels, Belgium on May 16, 2023. Union minister Piyush Goyal will co-chair the meeting. It will lay the roadmap for cooperation under the three working groups on strategic technologies, digital governance, and digital connectivity; green and clean energy technologies; and trade, investment, and resilient value chains.

India's external afairs minister and Union minister of state for electronics and information technology will also co-chair the first ministerial meeting of India-EU TTC. The EU side will be co-chaired by Dombrovskis and Margrethe Vestager.

The formation of the TTC was announced by Prime Minister Narendra Modi and Ursula von der Leyen, president of the European Commission, in New Delhi in April 2022 with the objective of creating a high-level coordination platform to tackle strategic challenges at the nexus of trade, technology, and security, India’s ministry of commerce and industry said in a press release.

During high-level meetings with senior leadership of the EU as well as Belgium, various issues of mutual interest including the ongoing negotiations for Free Trade Agreement (FTA), addressing issues of mutual market access, WTO reforms as well as cooperation in several areas of mutual interests would be discussed.

Goyal will also attend a stakeholder event for working groups 1 and 2 tomorrow. Group 1 focusses on digital governance and connectivity while Group 2 deals with clean and green energy technologies. This event will also have about eight business leaders from each side in attendance who will present their views and suggestions. Goyal will deliver a special address at this event.

Later in the day, Indian minister Goyal will attend a bilateral meeting with European Commissioner for internal trade Thierry Breton wherein issues pertaining to the small medium enterprises (SME) sector, start-up ecosystem, and e-commerce will be deliberated upon.

Today Goyal had a bilateral meeting with European Commission executive vice-president Valdis Dombrovskis followed by Working Group-3 (WG3) Stakeholder consultations in the presence of business leaders from both the EU and India. The WG3 meeting focuses on trade, technology, and resilient supply chains and has six business leaders from the EU and India. The minister will also attend a business event organised by the Federation of Enterprises in Belgium (FEB) and deliver the keynote address.

Fibre2Fashion News Desk (NB)

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