Latest News | India to Work with EU on Developing Modern Tech, Secure Critical Raw Material Supply Chain: Goyal

New Delhi, Jan 19 (PTI) Commerce and Industry Minister Piyush Goyal has said that India would work with the European Union to develop cutting-edge technologies and secure critical raw material supply chains to strengthen economic ties.

These issues were discussed during a meeting between Goyal and Maros Sefcovic, European Commissioner for Trade and Economic Security on January 18-19 in Brussels.

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The two leaders also agreed to build a commercially meaningful trade agenda and work towards a mutually beneficial Free Trade Agreement (FTA).

The commerce and industry ministry in a statement on Sunday said that India would build a commercially meaningful trade agenda with the EU, which is fair and equitable, addressing the tariff and non-tariff barriers through simplification and cost competitiveness for benefits of businesses from both sides.

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“India would work together with the EU for developing cutting edge technologies, secure critical raw material supply chains and build resilient supply chains- reducing dependencies on non-market economies and developing closer economic ties between India and the EU,” it said.

Both sides also discussed increasing cooperation in the area of trade and sustainable development in a fair manner keeping in mind the respective level of developments and the principle of common but differentiated responsibility.

“The two leaders outlined political directions to both the teams to develop a mutually beneficial agenda for trade and investment and a robust FTA in an expedited manner to meet global challenges,” the ministry said.

They reviewed progress in the trade and investment group of the India-EU Trade and Technology Council (TTC), agreed to address legacy issues and laid a roadmap for continuous consultations between senior officials from both sides and at ministerial level.

(This is an unedited and auto-generated story from Syndicated News feed, Pune Media Staff may not have modified or edited the content body)

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