- The EU and India will start formal talks on India's participation in Horizon Europe research program
- Negotiations aim to conclude by year-end for India's access to €95.5 billion Horizon Europe projects
- The EU-India Innovation Hub on EV charging and a deep tech Startup Partnership were agreed upon
The European Union and India agreed to start formal talks on New Delhi's participation in the bloc's flagship Horizon research program, broadening ties beyond a landmark free trade agreement that's expected to come into force next year.
The two sides aim to conclude negotiations before year-end on India's association with the €95.5 billion ($110 billion) Horizon Europe research and innovation program, according to a joint statement on Wednesday. The deal would give Indian universities, research institutes and companies access to collaborative projects with European partners.
The announcements came after the EU-India Trade and Technology Council (TTC) met for the third time in Brussels on Wednesday.
The duo also agreed to:
- Establish the first EU-India Innovation Hub on electric vehicle charging technologies and testing
- Launch an EU-India Startup Partnership focused on deep tech clean technologies
- Step up cooperation on semiconductors, high-performance computing, quantum technologies, artificial intelligence and 6G
- Strengthen work on resilient value chains in agri-food, active pharmaceutical ingredients and clean energy technologies
Horizon Europe aims to support scientific breakthroughs, technological development, and responses to global challenges like climate change and public health.
ALSO READ: 'Unprecedented Opportunities': Piyush Goyal Lists Benefits As India-UK FTA Comes Into Force
The announcements underscore how Brussels and New Delhi are seeking to diversify supply chains and reduce strategic dependencies in areas ranging from critical minerals to advanced technologies amid growing geopolitical tensions and efforts by major economies to de-risk from China.
"We are working flat out to ensure speedy ratification of our EU-India Free Trade Agreement, targeting entry into force in 2027 - a true game-changer for our trade and investment relationship," European Trade Commissioner Maro said in the statement.
"Paired with a comprehensive package covering Investment Protection and Geographical Indications - both advancing with real momentum - our partnership isn't just growing, it's set to skyrocket."
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.