EU, India agree to set up trade and technology council

EU, India agree to set up trade and technology council

Bloomberg: The European Union and India plan to launch a joint trade and technology council in an effort to deepen cooperation between the two regions.

“Both sides agreed that rapid changes in the geopolitical environment highlight the need for joint in-depth strategic engagement,” European Commission President Ursula von der Leyen said in a statement. The agreement will allow them to coordinate technical work and report to the political level, she said.

The push is part of a broader EU plan to accelerate trade talks with India, according to a person familiar with the talks. The bloc is seeking to give India a viable alternative to diversify away from Russia, said the person, who asked not to be identified because the talks are private.