14th meeting focus on economic growth

Three agreements were signed during the 14th India-EU Summit held in New Delhi held 6 October 2017, lending strong support to Indian economic prosperity.

These were:

Implementing Arrangement between the European Commission and the Science and Engineering Research Board (SERB) for Indian Researchers hosted by the European Research Council grantees in Europe.

Finance Contract of Bangalore Metro Rail Project Phase-2-Line R6 for Euro 300 million out of total loan of Euro 500 million.

Joint Declaration between the Interim Secretariat of the International Solar Alliance and the European Investment Bank.

The Summit was led by Prime Minister Narendra Modi, Donald Tusk, President of the European Council, and Jean Claude Juncker, President of the European Commission.

The leaders reviewed the wide-ranging cooperation under the India-EU Strategic Partnership. Recognising that India and the EU are natural partners, the leaders reaffirmed their commitment to further deepen and strengthen the India-EU Strategic Partnership based on shared principles and values of democracy, freedom, rule of law and respect for human rights and territorial integrity of States.

The EU leaders welcomed India’s efforts to promote economic and social development and expressed the EU’s continued interest in participating in India’s flagship initiatives such as “Make in India”, “Digital India”, “Skill India”, “Smart City”, “Clean India,” and “Start-Up India”. The EU closely follows Prime Minister Modi’s economic reforms, including the historic introduction of the Goods and Services Tax (GST), which can facilitate ease of doing business and promotes market integration in India by realising a simple, efficient and nation-wide indirect tax system. Prime Minister Modi appreciated the ongoing participation by EU companies in the flagship initiatives and called for their deeper engagement in India’s developmental priorities. The EU side encouraged the greater participation of Indian business organizations into the Enterprise Europe Network. The leaders noted the progress made on EU-India cooperation on resource efficiency and circular economy. Both sides agreed to enhanced cooperation and exchange of experience and best practices in the field of Intellectual Property rights (IPR) and public procurement.

The Leaders expressed their shared commitment to strengthening the Economic Partnership between India and the EU and noted the ongoing efforts of both sides to re-engage actively towards timely relaunching negotiations for a comprehensive and mutually beneficial India-EU Broad Based Trade and Investment Agreement (BTIA).

Both parties recognised the importance of trade in agricultural products in general, and rice in particular, and agreed to work together to resolve issues that have the potential of disrupting trade. With regard to import tolerance level of tricyclazole in rice (Commission Regulation (EU) 2017 / 983) the relevant plant protection companies will be invited to present new scientific data in order for the European Food Safety Authority to carry out an additional risk assessment without delay. On this basis, the European Commission would expeditiously consider whether to review the above mentioned Regulation. Both sides supported the early institutionalisation of cooperation between the European Food Safety Authority (EFSA) and the Food Safety and Standards Authority of India (FSSAI), to focus on exchange of knowledge and expertise in the area of methodologies for data collection, risk assessment and risk communication. Furthermore, the EU and India have agreed to further strengthen their cooperation on food safety, notably by:

a. Strengthening existing dialogues like Agricultural and Marine Working Group, SPS-TBT Working Group to cover issues on food safety and agricultural trade between the relevant Indian ministries/departments and relevant European Commission services.
b. Initiating joint projects in areas such as good agricultural practices, development of traceability capacities, and cooperation in laboratory activities, including testing and monitoring.
c. The EU would welcome India’s application for protection as a geographical indication of Basmati and shall process any such future application, as expeditiously as possible.
d. India welcomes EU’s intention to expeditiously initiate the process of recognising additional seed varieties of Basmati rice under Article 28 of the GATTS 1994 for duty derogation, as already requested by India.

Leaders welcomed the establishment of an Investment Facilitation Mechanism (IFM) for EU investments in India as a means to improve the business climate and hoped that the IFM will ease sharing of best practices and innovative technology from the EU to India. Leaders acknowledged that the “Make in India” initiative may offer investment opportunities for companies based in the EU Member States.

Leaders welcomed the establishment of the South Asian Regional Representative Office of the European Investment Bank (EIB) in India and noted that its investments, especially in urban mobility and renewable energy projects, will support India-EU collaboration on the Climate Agenda. The leaders welcomed the new Euro500 million EIB loan agreement for Bangalore Metro Phase-II Project, which is part of EIBs enhanced commitment of Euro1.4 billion in loans to India in 2017.

The leaders noted the ongoing positive discussions and the exchange of a Joint Declaration between the Interim Secretariat of the International Solar Alliance (ISA), and the European Investment Bank (EIB) aimed at mobilising investments for broad-based deployment of affordable solar energy applications across the 121 prospective member countries of the ISA.

Both sides adopted a Joint Statement on Clean Energy and Climate Change, reaffirmed their commitments under the 2015 Paris Agreement, and agreed to co-operate further to enhance its implementation. India and the EU noted that addressing climate change and promoting secure, affordable and sustainable supplies of energy are key shared priorities and welcomed the progress on the Clean Energy and Climate Partnership, adopted at the 2016 EU-India Summit, and reiterated their commitment to its implementation and further development, in accordance with the work programme agreed at the EU-India Energy Panel meeting in October 2016.

India and the EU reaffirmed their commitment to undertake mutual cooperation for reducing the cost of development and deployment of renewable energy projects through technology innovation, knowledge sharing, capacity building, trade and investment, and project establishment.

The leaders reiterated the importance of reconciling economic growth and environment protection. They highlighted the importance of moving towards a more circular economic model that reduces primary resource consumption and enhanced the use of secondary raw materials. They welcomed the contribution of the International Resource Panel, the Indian Ministry of Environment, Forests and Climate Change (through the Indian Resource Panel) and of the National Institution for Transforming India (NITI Aayog) to developing strategies for this crucial economic transition. Both sides agreed that the newly established G20 Resource Efficiency Dialogue will be an ideal platform for knowledge exchange and to jointly promote resource efficiency at a global level. Leaders also agreed to further intensify cooperation on addressing environmental challenges, such as water management and air pollution, acknowledged the progress in implementing the India-EU Water Partnership, including an agreed action programme, the increased cooperation opportunities on research and innovation, looking forward to the third India-EU Water Forum later in the month.

The leaders agreed to work towards an enhanced cooperation on innovation and technology development aiming at actions strengthening cooperation between European and Indian industries and start-up ecosystems.

The leaders welcomed the intensified technical cooperation between the Indian and European telecom standardisation bodies (TSDSI and ETSI), supported by the EU, and focusing on future global standards for 5G, Intelligent Transport Systems, Internet of Things, Future Networks and telecom security. Both sides encouraged the stakeholders to broaden this cooperation, demonstrate concrete technological solutions, and strengthen links between “Digital India” and “Digital Single Market for Europe.”

Both sides noted positive exchanges on Internet Governance, on increasing the ease of doing business for ICT companies on both sides, as well as meetings between the Indian and European start-up ecosystems under a “Start-up Europe India Network”.

The two sides confirmed their interest in further strengthening the cooperation in the area of pharmaceuticals, including capacity building of the regulatory system with particular focus on inspections by creating a more structured and stable training environment. The Indian side also highlighted its interest for cooperation on capacity building of the entire pharmaceutical value chain.

The leaders adopted the India-EU Joint Statement on a Partnership for Smart and Sustainable Urbanisation with a view to step up cooperation including with regard to priority sectors such as the upgrading of urban infrastructure for transport and sanitation, developing Smart Cities in India, as well as promoting the New Urban Agenda of the United Nations adopted in 2016.

The leaders agreed to scale-up cooperation under the renewed India-EU Science and Technology Cooperation Agreement in frontier areas of science and technology and in addressing current global challenges in particular in the areas of health, water and clean energy. They welcomed the agreement to launch a major joint flagship initiative of €30 million on water-related challenges reflecting the pressing need to cooperate on technological and scientific knowledge and management capacities to cope with increasing stress on water resources. Both sides agreed to work towards reciprocal opening of the EU Framework Programme for Research and Innovation ‘Horizon 2020’ and Indian programmes, and called for an intensified two-way mobility of researchers. To this extent, the two sides welcomed the conclusion of the Implementing Arrangement between the Science & Engineering Research Board (SERB) and the European Research Council (ERC).

The leaders encouraged Euratom and the Department of Atomic Energy to conclude the Agreement for Research & Development Cooperation in the field of the Peaceful Uses of Nuclear Energy. They stressed that this cooperation will contribute to further enhancement of nuclear safety and will be mutually advantageous. The cooperation will also lead to improving the skills and deployment of non-power technologies in the areas of water, health care & medicine, environment, etc., for the benefit of the society.

Both sides will continue their strong partnership in the development of fusion energy, building on the agreements to which they are parties, including under the Euratom-India Cooperation Agreement on Fusion Energy research.

The Leaders welcomed the imminent operationalisation of the 2008 Horizontal Civil Aviation Agreement, which will enhance air connectivity between India and Europe and help foster greater people-to-people contacts, business travel and increase in tourism. The leaders considered the opportunity to deepen transport cooperation in areas of mutual interest across all modes of transport, notably maritime, aviation, urban mobility and, rail.

India and the EU agreed to intensify cooperation in skills development and agreed to find complementarities and synergies between India’s Skill India initiative and the EU’s New Skills Agenda for Europe. fii-news.com