{"id":54315,"date":"2020-01-21T16:38:00","date_gmt":"2020-01-21T11:08:00","guid":{"rendered":"https:\/\/blogadmin.forumias.com\/?p=54315"},"modified":"2020-02-26T16:39:46","modified_gmt":"2020-02-26T11:09:46","slug":"7-pm-india-and-eu-have-accomplished-much-there-is-more-to-be-done21st-january-2020","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/7-pm-india-and-eu-have-accomplished-much-there-is-more-to-be-done21st-january-2020\/","title":{"rendered":"7 PM |India and EU have accomplished much. There is more to be done|21st January 2020"},"content":{"rendered":"\n<p><strong>Context:\n<\/strong>India\nand EU relations.<\/p>\n\n\n\n<p><strong>More\nin news:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Prime Minister&nbsp;Narendra\nModi&nbsp;is likely to visit Brussels in March for the next India-European\nUnion summit.&nbsp;<\/li><\/ul>\n\n\n\n<p><strong>European\nUnion:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The European Union is a group of 28\ncountries that operate as a cohesive economic and political block.<\/li><li>The Treaty of\nMaastricht was signed in 1992 that laid the foundations for further cooperation\nin other aspects such as defense and foreign policy, internal affairs, judicial\naffairs, and in the development of a monetary and economic union which includes\nthe adoption of a common currency. This enhanced integration led to the\nformation of the European Union (EU).&nbsp;<\/li><li>The EU is run by five\nmain bodies: European Parliament, Council of the Union, European Commission,\nCourt of Justice, and the Court of Auditors.<\/li><li>19 of these countries\nuse&nbsp;EURO&nbsp;as their official currency.&nbsp;9 EU\nmembers&nbsp;(Bulgaria, Croatia, Czech Republic, Denmark, Hungary, Poland,\nRomania, Sweden, and the United Kingdom)&nbsp;do not use the euro.<\/li><\/ul>\n\n\n\n<p><strong>India-European\nUnion relations:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>India-European Union relations started\nway back in the early 1960s, when India pursued diplomatic relations with the\nEuropean Economic Community.<\/li><li>The signing of a cooperation agreement\nin 1994 broadened the scope for bilateral relationship beyond trade and\neconomic cooperation.<\/li><li><strong>India-EU\nSummit:<\/strong><\/li><li>The\nfirst India-EU Summit took place in Lisbon on 28th&nbsp;June 2000 and marked a\nwatershed in the evolution of the relationship. &nbsp;<\/li><li>At\nthe 5th India-EU Summit held at the Hague in 2004, the relationship was\nupgraded to a \u2018Strategic Partnership\u2019. <\/li><li>The\ntwo sides adopted a Joint Action Plan in 2005 (which was reviewed in 2008).\nThis Joint Action Plan provided for strengthening dialogue and consultation\nmechanisms in the political and economic spheres, enhancing trade and\ninvestment, and bringing peoples and cultures together.<\/li><li>India-EU\nrelations received another boost with the 13th India-EU Summit at Brussels in\nMarch 2016 adopting the India-EU Agenda 2020, which lays down a road map for\ncooperation on a wide range of issues including nuclear cooperation,\ninvestments, Internet Governance, climate change, 5G communications etc.<\/li><li>The\n14th EU-India Summit in October 2017 in Delhi showed that the process of\nregular consultations and dialogue is back on track. It specified and deepened\nmany areas of cooperation that were identified at the previous summit. Three\nJoint Statements were agreed upon: \u201ccooperation in &nbsp;combatting\n&nbsp;terrorism\u201d, \u201cclean &nbsp;energy &nbsp;and &nbsp;climate &nbsp;change\u201d&nbsp;\nand &nbsp;a&nbsp;\u201cpartnership for smart and sustainable urbanization.\u201d<\/li><li>An impetuous for further strengthening\nEU-India relations came with the EU\u2019s Strategy on India adopted in December\n2018. The strategy was well-received in India. It underlines that the EU prioritises\na long-term engagement with India with joint efforts on issues such as cyber\nand maritime security, energy and climate, as well as defending the rules-based\nglobal order that facilitates security, stability and predictable trade.&nbsp;<\/li><\/ul>\n\n\n\n<p><strong>Trade\nRelations:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The EU is India&#8217;s largest trading\npartner, accounting for \u20ac92 billion worth of trade in goods in 2018 or 12.9% of\ntotal Indian trade, ahead of China (10.9%) and the USA (10.1%).<\/li><li>The EU is the leading destination for\nIndian exports (almost 18% of the total).<\/li><li>India is the EU\u2019s 9th largest trading\npartner, accounting for 2.3% of EU\u2019s total trade in goods in 2018, well behind\nthe USA (16.9%) and China (15.3%).<\/li><li>Trade in goods between the EU and India\nincreased by 72% in the last decade.<\/li><li>Trade in services between the EU and\nIndia increased from \u20ac23 billion in 2010 to \u20ac29 billion in 2016. India is now\nthe 4th largest service exporter to the EU and the 6th largest destination for\nEU services exports.<\/li><li>The EU&#8217;s share in foreign investment\ninflows to India more than doubled from 8% to 18% in the last decade, making\nthe EU the first foreign investor in India.<\/li><li>EU foreign direct investment stocks in\nIndia amounted to \u20ac73 billion in 2016, which is significant but way below EU\nforeign investment stocks in China (\u20ac178 billion).<\/li><li>Some 6,000 EU companies are present in\nIndia, providing directly 1.7 million jobs and indirectly 5 million jobs in a\nbroad range of sectors.<\/li><li>Indian companies invested over \u20ac50\nbillion in Europe since 2000.<\/li><\/ul>\n\n\n\n<p><strong>Areas\nof cooperation:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Economic\nties:<\/strong><\/li><li>The\nIndia-EU FTA called the Bilateral Trade and Investment Agreement (BTIA) has\nbeen deadlocked since 2007. The two sides need to find a common ground to agree\nupon and then implement&nbsp;BTIA&nbsp;to further bolster their bilateral\ntrade. <\/li><li>It is\nimportant for India to overcome its siege mentality, commit to institutional\nreform, and confront domestic vested interests. Reaching an agreement that will\nbring mutual benefit to both the EU and India will be a long journey, but,\ndespite several missed deadlines, it is not out of reach.<\/li><li><strong>Cooperation\nin the arena of Counter-terrorism:<\/strong><\/li><li>India\nand the EU are committed to enhance counter-terrorism cooperation, as\nformulated in the 2005 Joint Action Plan, the 2009 Summit Declaration, and\nparticularly the Joint Declaration on International Terrorism of 10th December\n2010.&nbsp;<\/li><li>India\nand the EU should work together on the completion of the comprehensive\nconvention on international terrorism (CCIT), showing commitment to an\ninternational order based on legal rules and the conviction that the solution\nto terrorism lies in a well-functioning domestic and international judicial\nsystem.<\/li><li><strong>Environment\nand Climate Change:<\/strong><\/li><li>The\nIndia-EU Joint Working Group on Environment has met annually since 2007. The\nEU-India Action Plan Support Facility Programme (APSF) provides technical\nassistance in five priority sectors: waste, water, climate change, air\npollution and chemicals.<\/li><li>In 2016\nPrime Minister&nbsp;Narendra Modi&nbsp;and European leaders agreed on an\nEU-India Clean Energy and Climate Partnership (CECP). <\/li><li>In\n2018, the EU joined efforts with the International Solar Alliance,\nheadquartered in India.&nbsp;<\/li><li><strong>World\nTrade:<\/strong><\/li><li>Both\nIndia and EU agree on the vital role of the World Trade Organisation (WTO) and\nthe need to overcome the crisis of the dispute settlement system.<\/li><li>The\nEU has a strong record on liberalising trade. <\/li><li><strong>Security:<\/strong><\/li><li>The\ninterest of both India and the EU (90 percent of whose external trade is\nseaborne) is paramount in going for maritime cooperation.<\/li><li>In\nthe field of security, our cooperation is increasing, to bring further\nstability to regions of common interest for the EU and India, notably the\nIndian Ocean. Indian Navy vessels are now escorting World Food Programme ships\nin the framework of the EU Atalanta operation against piracy off the coast of\nSomalia.<\/li><li><strong>Technology\nTransfer:<\/strong><\/li><li>The\nEU is also one of the major sources of technology transfer to India.&nbsp;<\/li><li>Germany&nbsp;has\nemerged as a clear leader in technical collaboration from the EU. Germany has a\nlead role to play in helping out India in terms of renewable energy projects\nand other green energy options for&nbsp;a de-carbonised development path.<\/li><li><strong>The\nfield of digital economy and cyber: <\/strong><\/li><\/ul>\n\n\n\n<p>EU\nand India should deepen cooperation to protect fundamental freedoms in cyber\nspace and the free flow of data \u2014 and counter the drift towards high-tech\n\u201cde-coupling\u201d<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Global\norder:<\/strong><\/li><\/ul>\n\n\n\n<p>As an\nemerging global power, India plays a key role in the current multipolar world.\nTo maintain the rules-based global order, therefore, it is vital that the EU\nand India implement&nbsp;effective multilateralism&nbsp;and&nbsp;global\neconomic governance.&nbsp;<\/p>\n\n\n\n<p><strong>Conclusion:<\/strong><\/p>\n\n\n\n<p>Both the\nEuropean Union (EU) and India find themselves in the midst of a changing world order\nwith ambiguous US priorities, increasing Chinese activity across continents,\nand numerous global challenges. The EU and India share common values\nand&nbsp;promote international peace and stability. Over the years, both India\nand EU have accomplished much and there is even more to be done to further\nstrengthen our dynamic dialogue and cooperation in all areas of mutual interest\nand as players on the world stage.<\/p>\n\n\n\n<p><strong>Source:\n<\/strong><a href=\"https:\/\/indianexpress.com\/article\/opinion\/columns\/india-european-union-relations-modi-climate-change-6226828\/\">https:\/\/indianexpress.com\/article\/opinion\/columns\/india-european-union-relations-modi-climate-change-6226828\/<\/a><strong><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Context: India and EU relations. More in news: Prime Minister&nbsp;Narendra Modi&nbsp;is likely to visit Brussels in March for the next India-European Union summit.&nbsp; European Union: The European Union is a group of 28 countries that operate as a cohesive economic and political block. The Treaty of Maastricht was signed in 1992 that laid the foundations&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/7-pm-india-and-eu-have-accomplished-much-there-is-more-to-be-done21st-january-2020\/\">Continue reading <span class=\"screen-reader-text\">7 PM |India and EU have accomplished much. There is more to be done|21st January 2020<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[130,955],"tags":[],"class_list":["post-54315","post","type-post","status-publish","format-standard","hentry","category-7-pm","category-7-pm-brief-infograph","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704739653},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/54315","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=54315"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/54315\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=54315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=54315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=54315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}