Chinmaya IAS Academy – Current Affairs Chinmaya IAS Academy – Current Affairs
GS3 ECONOMICS:
EU-India TTC establishment was announced in 2022 as a key bilateral platform to address challenges at the confluence of trade, trusted technology and security.
- It has 3 working groups, one each on:
- Strategic Technologies, Digital Governance, and Digital Connectivity
- Clean and Green Technologies
- Trade, Investment and Resilient Value Chains
Key highlights of the meeting
- Strategic technologies, digital governance and digital connectivity:
- Committed to human-centric AI, semiconductors, High-Performance Computing, and 6G.
- Agreed on interoperable Digital Public Infrastructures (DPIs) and strengthening ties between European AI Office & India AI Mission.
- Green and clean energy technologies: Announced launching coordinated research under the Horizon Europe program with €60 million joint investment
- Horizon Europe is EU’s key funding programme for research and innovation.
- Trade, investment and resilient value chains
- Agreed to conclude the Free Trade Agreement (FTA) by 2025.
- Exchanged best practices on Foreign Direct Investment screening.
- Discussed trade and decarbonization, including EU’s Carbon Border Adjustment Mechanism (CBAM)
- Reaffirmed commitment to the India-Middle East-Europe Economic Corridor (IMEEC).
India and the EU, as large democracies with open markets, share common values and interests in security, prosperity, and sustainable development, making their partnership vital in a multipolar world.