India’s manufacturing and EU’s innovation capacity can be a game changer
Commerce and Industry Minister Piyush Goyal has reiterated a call for Early Harvest agreements between India and European Union which are “fully WTO compliant” and the need to address the Non-tariff barriers on both sides.
Speaking to envoys from the EU on 13 April 2021, he noted that the World Trade Organisation (WTO) reforms are a shared objective of India and the Union’s member countries.
He emphasised “the need for proportional and simultaneous discussions on both trade and investment, so that, we have balanced outcome for both parties.”
India looks forward to advance the negotiations towards an agreement between India and EU on Investment facilitation and Protection for mutually beneficial outcome, said Goyal, adding that he is looking forward to working with the European counterparts to pave the way for the EU-India Summit in Porto in May this year.
India, he said, can prove to be the most natural ally for the EU, as the country has been, and added that India-EU Partnership can emerge as a model of Good Governance, Growth and Development.
India-EU collaboration in research and innovation has expanded significantly and there is large scope of further enhancement of engagement, added Goyal.
The Minister also explained that AatmaNirbhar Bharat (self reliant India) does not mean being protectionist. The Government initiative focuses on producing for India and the world as “the idea is to make India Global Manufacturing Hub, particularly in areas where our country has competitive strength”, stressed Goyal.
He further stated that combination of India’s manufacturing and EU’s innovation capacity can be a game changer.
Calling for Resilient India-EU relations, he said that India and EU should look at vast areas of Convergence. #exports #manufacturing #investment #innovations #technologies /fiinews.com
