The EU has chosen to replicate the model of the EU-US Trade and Technology Council, known as the TTC, with India. In both cases, this formation marks a collaboration that is intended to be close and strategic, in the absence of a trade agreement. Following an announcement to this effect on 25 April 2022 (see EUROPE 12938/14), the two partners officially launched the work of the EU-India TTC on Monday 6 February.
In contrast to the transatlantic version, the EU is negotiating a free trade agreement with India, but the negotiations are expected to take some time before the two sides agree on a text. These negotiations, as well as those on an investment agreement and a geographical indications agreement, are dealt with outside of the TTC.
“The EU and India have a common interest in ensuring security, prosperity and sustainable development based on shared values. The TTC will provide the political steer and the necessary structure to coordinate approaches and advance technical work”, says the European Commission.
A simplified format
Another difference with the EU-US TTC is that the India TTC has only 3 working groups, not 10. In recent months, many observers have criticised the complexity of the first TTC.
The working groups will address the following topics: - strategic technologies, digital governance and digital connectivity; - green and clean technologies; - trade, investment and resilient value chains. Their work can now begin.
The TTC is chaired by the two Commission Vice-Presidents, Margrethe Vestager and Valdis Dombrovskis, on the EU side. Three ministers co-chair on the Indian side: External Affairs Minister Subrahmanyam Jaishankar, Commerce Minister Piyush Goyal and Electronic and Information Technology Minister Rajeev Chandrasekhar.
They will meet once a year from spring 2023. (Original version in French by Léa Marchal)