Context: A high-level delegation of 22 out of 27 European Commissioners, led by European Commission (EC)
President Ursula von der Leyen, visited New Delhi for a two-day visit to bolster India-EU strategic cooperation.
- India-EU Cooperation:
- Trade and Investments:
- EU is India’s largest trading partner in goods.
- FY 2023-24 trade statistics:
- Bilateral trade in goods: $135 billion
- Bilateral trade in services: $53 billion
FDI inflows from the EU (2000-2024): $117.4 billion
Ongoing negotiations for a Free Trade Agreement (FTA) since 2021.
Technology and Digital Cooperation:
- India-EU Trade and Technology Council (TTC) launched in 2022.
- Focus areas: Digital and Strategic Technologies, Clean and Green Technologies, and Resilient Supply Chains.
- MoU on semiconductor R&D (2023).
- High-Performance Computing (HPC) and AI collaborations.