India, EU Step Up Tech and Investment Ties Ahead of Landmark Trade Pact

India and the European Union are looking to expand cooperation in technology and investment as they move closer to signing a free trade agreement next month. The two sides discussed semiconductors, artificial intelligence, quantum technology and biotechnology at a strategic partnership meeting in New Delhi on Monday. 

Trade Deal And Investment Protection Agreement 

India and the 27-nation EU bloc are expected to seal the proposed trade agreement next month. Described as the "mother of all deals", the pact is expected to create a market covering around two billion people. 

Ahead of its conclusion, both sides reviewed their trade and investment engagement. They also agreed to continue working on an investment protection agreement and a separate agreement on geographical indications. 

Semiconductors, AI And Quantum Technology In Focus 

Technology was a major part of the discussions. India and the EU reviewed cooperation through the Trade and Technology Council (TTC), which was launched in 2022 to facilitate work in critical technology areas. 

The talks covered artificial intelligence, quantum computing, advanced semiconductors, cybersecurity, digital public infrastructure and clean technologies. Strengthening supply chains and economic security also featured on the agenda. 

Both sides discussed closer research ties, including India's potential association with Horizon Europe, the EU's €93.5-billion research and innovation programme. The collaboration is expected to form part of their agenda for the next five years. 

Connectivity and Green Energy Cooperation 

The discussions also covered the Global Gateway, the India-Middle East-Europe Economic Corridor (IMEC) and other connectivity projects. 

Clean energy, climate resilience, green mobility and digitalisation were among the areas identified for further cooperation. Both sides also reviewed opportunities in talent mobility, education and skills development. 

The meeting was co-chaired by Sibi George, Secretary (West) in the Ministry of External Affairs, and Matti Maasikas, Deputy Secretary General for Geoeconomics and Interinstitutional Issues at the European External Action Service. 

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Conclusion 

The proposed free trade agreement is expected to be a major step in India-EU relations. Alongside the trade pact, both sides are working to expand cooperation in technology, research, investment and connectivity. 

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