India to work with EU on developing modern tech, secure critical raw material supply chain: Piyush Goyal

During a meeting at AD Ports Group to discuss the development of a grain terminal at Kuryk Port in Kazakhstan, Commerce and Industry Minister Shri Piyush Goyal stated that India-EU collaboration plans to strengthen its economic ties. This partnership aims to advance cutting-edge technologies and ensure the security of critical raw material supply chains. These issues were discussed during a meeting between Goyal and Maros Sefcovic.

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.

"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." 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. India-EU partnership for technology development will not only strengthen the ties between the two countries but also help in economic boost in both nations.

More related article: Banihal bypass to strengthen national security logistics, enhance tourism in Kashmir: Union Minister Nitin Gadkari