The second meeting of the India-European Union (EU) Trade and Technology Council (TTC) was held on February 28, 2025, in New Delhi, marking another significant step toward strengthening the bilateral relationship between India and the EU. Co-chaired by Indian External Affairs Minister Dr. S. Jaishankar, Commerce and Industry Minister Shri Piyush Goyal, and Minister for Electronics and Information Technology Shri Ashwini Vaishnaw, the summit brought together key representatives from both sides to tackle pressing challenges.
On the EU side, the meeting included Executive Vice-President for Tech Sovereignty, Security, and Democracy Ms. Henna Virkkunen, Commissioner for Trade and Economic Security Mr. Maros Šefčovič, and Commissioner for Startups, Research, and Innovation Ms. Ekaterina Zaharieva. The TTC was initially established by Prime Minister Narendra Modi and European Commission President Ursula von der Leyen back in April 2022 as part of efforts to address key issues at the juncture of trade, technology, and security.
At the meeting, both leaders reaffirmed the common interests and challenges faced by India and the EU. Dr. S. Jaishankar noted, "India and the EU, as two large and vibrant democracies with open market economies, shared values and pluralistic societies, are natural partners in a multipolar world.” This sentiment underscored the mutual recognition of the importance of trust and shared principles as the foundation for enhancing cooperation.
One significant objective discussed was the need to strengthen cooperation on trade, technology, and investment. The discussions emphasized aiming for resilience amid the shifting geopolitical dynamics of the global marketplace. Mr. Šefčovič reiterated, "Both sides emphasized again the importance of the rules-based international order and the full respect for the principles of sovereignty."
The TTC highlighted various areas of collaboration for mutual benefit. Both sides sought to deepen their engagement on issues such as strategic technologies, digital governance, and resilient value chains. The discussion aimed to address future technological trends, including advancements in artificial intelligence (AI), semiconductors, and sustainable energy solutions.
Further, the meeting addressed the current state of trade relations, stipulating tangible efforts to promote market access, reduce barriers, and pursue mutually beneficial agreements. The leaders committed to fostering partnerships across various domains, including agriculture, pharmaceuticals, and clean technologies.
A key component of the TTC's agenda involved collaborative efforts to devise technologies suited for the goals of sustainable development and advanced research. "We reiterate our commitment to enhancing cooperation to safeguard trade & sea lanes of communication," both foreign ministers stated, underscoring the importance of security and shared prosperity.
Reinforcing their partnership, both sides recognized the significance of prior negotiations on the Free Trade Agreement (FTA) and Investment Protection Agreements. The discussions noted the challenges involved, particularly emphasizing transparency, predictability, and diversification to bolster economic resilience.
To address pressing global concerns, the TTC also included discussions surrounding climate initiatives and technology cooperation for clean and green energies. Noting the potential for collaborative policies aimed at meeting climate goals, both sides agreed on joint research initiatives aimed at promoting green technologies. The ambitious aim of achieving net-zero emissions remained at the center of their agenda.
India and the EU announced plans to scale joint projects focusing on sectors like clean hydrogen and renewable energy production, showcasing their commitment to sustainable technology development. The TTC will work on actionable strategies to maximize investments, strengthen supply chains, and develop resilient energy frameworks across regions. "Strong partnerships are core to our ambitions on clean energy," remarked Shri Piyush Goyal during the meeting.
Looking forward, both parties slated the next TTC meeting for within the year. They agreed to maintain dialogue and keep pushing for wrapped-up discussions on the potential FTA, which has been long-awaited. The dialogue on key collaborative areas signifies the shift toward more proactive measures to solidify India-EU ties.
Both leaders expressed optimism for the partnership and the power of working together on shared interests. Modifying threats from authoritarianism were discussed, with leaders emphasizing the collective need for vigilance and collaboration.
With commitments made and discussions underway, the meeting concluded, setting the stage for enhanced cooperation across multiple sectors aiming for shared stability. The interpersonal trust reflected during the meeting serves to bolster the collaborative nature of endeavors between India and the EU and signifies the importance of sustained dialogue immediately.