Indian Ministerial Delegation: Press Remarks Following India-Eu Ttc Meeting (May 16, 2023)

Welcome to this press point following the first ministerial meeting of the EU-India Trade and Technology Council. We have gathered a remarkable group of leaders for this momentous occasion. Let's dive into the excitement and potential that lies ahead in this creative and innovative journey.

Shaping a Decade with Tech: A Shared Vision

In an era defined by volatility and uncertainty, where the global economy is anything but predictable, there's a need for a responsible yet robust growth strategy. The first thing to acknowledge is that the EU and India share common values and strategic ambitions. These two pillars of democracy understand the importance of resilient and reliable supply chains, trust, and transparency in the digital domain.

As the meeting unfolded, the discussions encompassed crucial elements like market access, foreign investment, and the significance of a knowledge economy. We are living in a decade that will be defined by technology, and our goal is to establish a trusted collaboration that keeps globalization strong and our economies open.

The EU-India Partnership: A Defining Force

The EU and India are both vibrant democracies with open-market economies. This collaboration is not just about bilateral agreements; it goes beyond that. The EU-India Trade and Technology Council is an initiative designed to unlock the untapped potential in our trade and economic relations. While we're already deep in negotiations regarding trade, investment protection, and geographical indications, these agreements cannot cover every facet of our relationship.

The key areas of focus in the coming years are resilient value chains, addressing market access issues, understanding foreign investment screening processes, and engaging in global trade issues, particularly with the upcoming WTO ministerial conference.

The goal here is not just to foster a partnership but to make it the defining one of the 21st century, one that shapes the future of tech.

Shaping the Future of Tech: Open Societies, Open Minds

The rapid evolution of technology and innovation is fundamentally reshaping the world's economies. The EU-India Trade and Technology Council represents a golden opportunity for India and the EU to collaboratively shape the future of technology. We are at a unique juncture where the future of tech must be led and narrated by open societies and democracies, and both India and the EU are well-positioned to take on this responsibility.

Our partnership will extend to areas such as artificial intelligence, quantum computing, semiconductor design, and the entire microelectronics ecosystem. These are areas where both sides can contribute their expertise, creating opportunities and addressing challenges.

Moreover, the TTC can play a significant role in harmonizing rules, regulations, and approaches concerning the internet. As the internet continues to play a more prominent role in our lives, it's essential to have a shared vision for its future.

In conclusion, this TTC meeting is just the beginning of a transformative journey. The EU and India have embarked on a path to harness the potential of technology for the betterment of their citizens and the world at large. The world is evolving, and our partnership will ensure that we evolve with it, collaboratively and positively.

In this innovative and forward-thinking essay, we've explored the potential of the EU-India Trade and Technology Council, emphasizing the importance of open collaboration in shaping the future of technology. The partnership between these two global leaders is set to redefine the way technology impacts our world, opening doors to a new era of possibilities.