Sun Jan 19 16:14:01 UTC 2025: ## India and EU to Strengthen Economic Ties with Focus on Technology and Raw Materials

**Brussels, January 19, 2025** – India and the European Union (EU) have pledged to deepen their economic relationship, focusing on cutting-edge technology development and securing critical raw material supply chains. This commitment follows a meeting between Indian Commerce and Industry Minister Piyush Goyal and EU Trade and Economic Security Commissioner Maros Sefcovic in Brussels on January 18-19.

Both sides agreed to work towards a mutually beneficial Free Trade Agreement (FTA), streamlining trade barriers to create a more competitive market for businesses in both regions. The collaboration will also extend to building resilient supply chains, reducing reliance on non-market economies, and fostering closer economic ties.

A joint statement emphasized the importance of sustainable development in trade cooperation, acknowledging differing developmental levels and the principle of common but differentiated responsibility. Both ministers directed their teams to expedite the development of a comprehensive trade and investment agenda and a robust FTA to address global challenges. They also reviewed progress on the India-EU Trade and Technology Council, planning for ongoing high-level consultations.

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