With India-EU summit, European Union Ambassador to India, Ugo Astuto reinforced his belief in India’s capability to play an important role in the post-COVID world and the future of global supply chain. Astuto advised European companies to focus on diversifying their supply chains and supply chain sources rather than on-shoring.
Another EU official said India needs to resist protectionist measure and ensure access to supply and value chains. The envoy emphasized that economic cooperation, multilateralism and post-Covid response will be in focus at the summit. The summit will broaden the agenda of cooperation from maritime security to connectivity and research innovation, he said.
In the summit, the two sides are also expected to delve into finding a way forward to resume talks on the long-pending free trade agreement (FTA) which is known as EU-India Broad-based Trade and Investment Agreement (BTIA).
