India, EU to develop cutting edge tech, secure critical raw material supply chains
supply chains to strengthen economic ties, commerce and industry minister Piyush Goyal said Sunday.
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The issue was among six broad principles that Goyal discussed with Maros Sefcovic, European Commissioner for Trade and Economic Security on January 18-19 during his visit to Brussels.
The two leaders also agreed to build a commercially meaningful trade agenda and work towards a mutually beneficial Free Trade Agreement (FTA).
As per a statement issued by the commerce and industry ministry, India said it would build a commercially meaningful trade agenda with the EU, which is fair and equitable, addressing the tariff and non-tariff barriers through simplification and cost competitiveness for benefits of businesses from both sides.
“India would work together with the EU for developing cutting edge technologies, secure critical raw material supply chains and build resilient supply chains- reducing dependencies on non-market economies and developing closer economic ties between India and the EU,” it said.
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