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India-EU Partnership Important To Ensure Sustainability, Inclusive Growth: Piyush Goyal

The Minister highlighted that sustainability and inclusive growth were critical elements of India's Union Budget 2023

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Union Minister of Commerce and Industry Piyush Goyal on Wednesday underscored the importance of the India-Europe partnership in ensuring sustainability and inclusive growth and making the world a better and safer place.

The Industry Minister was addressing the India-Europe Sustainability Conclave, organised by the Confederation of Indian Industry (CII) in collaboration with the Ministry of External Affairs, in New Delhi. Goyal emphasised that sustainable growth cannot be achieved unless there is a collective effort from all stakeholders of society including the government, businesses and citizens.

The Minister highlighted that sustainability and inclusive growth were critical elements of India's Union Budget 2023. "Basic needs including access to water, digital and infrastructure connectivity, technology, healthcare, and education, among others, must be assured to everyone," added Goyal.

Goyal stated further that India's growth story is driven by India's aspirational youth, who also recognise sustainability as an important element of India's future growth. The Minister urged business leaders and the global political leadership to come together in driving collective efforts in transitioning towards a greener future.

He further mentioned that it was important to recognise that developing countries vis-a-vis developed countries will have different goals and timelines in their growth journey and therefore all countries must be sensitive to each other's needs, goals and outcomes.

"India is an indispensable and strategic partner for the European Union," stated Josep Borrell, High Representative of the European Union (EU) for Foreign Affairs and Security Policy and Vice President, the European Union.

He highlighted that India is an important partner for the EU in many areas, including energy and technology.
He added there is greater potential for increasing India-EU energy cooperation, particularly in green energy and just transition.
Borrell also underlined the need for strengthening the India-EU partnership in areas such as robotics, quantum computing, critical materials, and semiconductors and in ensuring debt sustainability.

"The Indian and European economies are connected through trade and innovation and cooperation between the two must be explored further as the two together can shape a better future for the world," stated Wopke Hoekstra, Deputy Prime Minister and Minister of Foreign Affairs, The Netherlands.

He added the two economies could expand cooperation particularly in driving global response to global challenges and in the areas of digital health and cybersecurity.

He further stated that India and Europe can join hands to promote a rule-based international order for enhancing a stable, prosperous and peaceful future.
James Cleverly, MP, Secretary of State for Foreign, Commonwealth and Development Affairs, UK, stated that India's G20 presidency has come at the right time, making India a crucial partner for the UK.

The Secretary of State emphasised that the UK would lend its support to India's G20 presidency and will work together to strengthen the global trade system. He also added that the India-UK FTA has the potential to deliver real benefits across both economies.

Silvio Schembri, Minister of Economy, European Funds and Land, Malta, stated that the India Europe conclave will further strengthen existing historical ties between India and Malta.

He observed that aviation, pharmaceuticals, and technology were some of the potential sectors of collaboration between the two countries. The Minister stated that he looked forward towards a fruitful conclusion of the India-EU FTA.

"Europe and India must look beyond bilateral cooperation and jointly address global issues," stated Sanjiv Bajaj, President, of CII. He highlighted digital cooperation, global value chains, climate action and sustainability, and green product development as critical areas of cooperation between India and Europe.
The India Europe Conclave over the past two days have seen a significant presence from Europe and received a strong response from global thought leaders which will help in deepening India's bilateral ties with many European countries, added Chandrajit Banerjee, Director General, CII. (ANI)

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