Current Affair 1:

News:

The India-EU Trade and Technology Council (TTC) was first announced by the European Commission President, Ursula von der Leyen, and India’s Prime Minister, Narendra Modi, in April 2022.

Established on February 6, 2023, this strategic coordination mechanism allows both sides to tackle challenges at the nexus of trade, trusted technology, and security, and deepens cooperation in these fields.

The TTC is a key forum to deepen the strategic partnership on trade and technology between the two partners.

The TTC consists of three Working Groups:

1. Working Group 1 on Strategic Technologies, Digital Governance and Digital Connectivity
2. Working Group 2 on Green and Clean Energy Technologies; and
3. Working Group 3 on Trade, Investment and Resilient Value Chains.

Working Groups are now jointly working to advance identified objectives and key actions.

Presently, European Union (EU) currently has Trade and Technology Council (TTC) agreements with only two countries: the United States and India. EU-US Trade and Technology Council (TTC) launched in June 2021.

If you see trade between India and EU:

India generally maintains a trade surplus with the European Union (EU). This means that India's exports to the EU are typically higher than its imports from the EU, resulting in a positive trade balance for India.

 

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