India and the European Union (EU) are set to hold the first Ministerial meeting of the India-European Union Trade and Technology Council (TTC) on May 16, 2023, in Brussels, Belgium. The meeting will be chaired by Union Minister for Commerce & Industry, Textiles, Consumer Affairs, Food & Public Distribution, Shri Piyush Goyal, along with the External Affairs Minister (EAM) and the Union Minister of State for Electronics and Information Technology (MeitY). On the EU side, Executive Vice Presidents Mr. Dombrovskis and Ms. Vestager will serve as co-chairs.
The formation of the TTC was announced by Indian Prime Minister Shri Narendra Modi and H.E. Ms. Ursula von der Leyen, President of the European Commission, in April 2022. The objective of this council is to establish a high-level coordination platform that addresses strategic challenges related to trade, trusted technology, and security.
Prior to the Ministerial meeting, on May 15, Minister Goyal will engage in a bilateral meeting with EVP Dombrovskis. This will be followed by Working Group-3 Stakeholder consultations, involving business leaders from both the EU and India. The focus of this meeting will be on Trade, Technology, and Resilient supply chains, with six business leaders representing each side. In the afternoon, Minister Goyal will attend a business event organized by the Federation of Enterprises in Belgium (FEB) and deliver a keynote address. Discussions during this event will encompass the economic footprint of Belgian enterprises in India, as well as future investment plans. Furthermore, the three Indian Ministers will also hold meetings with the Belgian Prime Minister and the President of the European Commission.
On May 16, Minister Goyal will participate in a Stakeholder Event for Working Groups 1 and 2. Group 1 will focus on digital governance and connectivity, while Group 2 will address clean and green energy technologies. This event will include the presence of approximately eight business leaders from each side, who will present their views and suggestions. Minister Goyal will deliver a Special Address, with the EAM and EVP Vestager also participating in the event.
Later in the day, Minister Goyal will hold a bilateral meeting with European Commissioner for Internal Trade, Mr. Thierry Breton, to discuss matters pertaining to the SME sector, the startup ecosystem, and e-commerce.
Following these engagements, the first ministerial meeting of the India-EU TTC will take place. The meeting will be attended by the External Affairs Minister, the Minister for Commerce and Industry, and the Minister of State for Electronics and Information Technology. The meeting aims to establish roadmaps for future cooperation under the three working groups:
- Working Group on Strategic Technologies, Digital Governance, and Digital Connectivity.
- Working Group on Green and Clean Energy Technologies.
- Working Group on Trade, Investment, and Resilient Value Chains.
The first ministerial meeting will lay the foundation for cooperation across all three working groups and provide direction to achieve desired outcomes before the next ministerial meeting scheduled for the following year. Various topics of mutual interest will be discussed during high-level meetings with senior leadership from the EU and Belgium. These topics include ongoing negotiations for a Free Trade Agreement (FTA), addressing issues related to mutual market access, WTO reforms, and cooperation in multiple areas of mutual interest.
The Working Group on Trade, Investment, and Resilient Value Chains is led by the Department of Commerce, and the first meeting of the working group was co-chaired by Sh. Sunil Barthwal, Commerce Secretary, and Ms. Sabine Weyand, Director-General for Trade from their respective sides.
