(Video) Rajya Sabha TV (RSTV) The Big Picture: India-EU Virtual Summit

Topic: India-EU Virtual Summit

Guest:

Elisabeth Braw, (Senior Research Fellow, Royal United Services Institute)
Mohan Kumar, (Former Ambassador)
Prof. Swaran Singh, (Chairperson, Centre for International Politics, JNU)

Topic Description:

India and the European Union on Wednesday adopted a joint declaration on moving towards a more circular economic model that provides for reduction in primary resource consumption and enhances the use of secondary raw materials. The declaration was adopted at a virtual summit of the leaders of the two sides that resolved to significantly expand bilateral economic engagement, recognising that post COVID-19 recovery priorities offer opportunities to unleash the full potential for trade and investment ties. The 27-nation EU is India's largest trading partner for goods with trade exceeding 100 billion dollars. The bloc is one of the largest investors in India with cumulative investment of over 91 billion dollars. The EU is also an important source for technology, innovation and best practices for India. In the summit, the two sides also decided to set up a high-level dialogue to address trade irritants and improving conditions for traders and investors on both sides as well as discuss supply chain linkages.