Aim for me is how we can better plug Indian, European economic ecosystem: EU envoy to India Herve Delphin

Ambassador of the European Union to India, Herve Delphin in his recent visit to Bengaluru on Monday highlighted that the purpose of his visit is to boost trade and investment flows between the two regions.

In an interview with ANI, Delphin spoke about, the India-EU partnership, “I come here first to watch, to meet, to listen and to learn because the aim for me is how we can better plug the Indian and the European ecosystem, economic ecosystem. We have a good partnership with India in various domains like bio-sector, IT, and pharmaceutical. So with almost 5,000 companies, European companies present in India, a lot are also present in Bengaluru specifically.”

Additionally, Delphin underscored the significance of his visit, emphasizing the broader purpose of his role as an ambassador.

“When you are accredited as an ambassador, you’re not accredited to the capital you are credited to the country. So it’s very important for me to travel across the country as such a diverse country and rich country as India,” Delphin said.

Regarding his visit to India’s technical hub, Bengaluru, the EU ambassador said, “It was only normal for me to travel to Bengaluru. It’s the technical hub, the Silicon Valley of India, an area, a region where there is so much that is happening. And so for Europe and the EU, it’s very important first to appreciate the diversity.”

Meanwhile, speaking regarding the core objective of the European Union’s endeavours in its ties with India, he said, “The very purpose of all that the EU is trying to achieve here in its relationship with India, whether the negotiation of the FTA or the setting up of a Trade and Technology Council is really about how we can bring together our economic ecosystems, our digital ecosystems and all these aspects of our economy to make it flourish.”

In March 2024, India and the European Free Trade Association (EFTA) signed a Trade and Economic Partnership Agreement (TEPA) with four European states- Iceland, Liechtenstein, Norway and Switzerland.

EFTA has committed to promote investments to increase the stock of foreign direct investments by USD 100 billion in India in the next 15 years and to facilitate the generation of 1 million direct employment in India

Delphin highlighted the opportunity presented by India’s prominence in IT and technology, emphasizing the need to explore and capitalize on potential synergies for mutual economic growth.

“So, I think in coming here at the heart of the digital and tech – one of the key centres of IT in India – it is important to look at those opportunities that we can seize…” he added.

Earlier, Union Minister of Commerce and Industry, Piyush Goyal, discussed regarding the Free Trade Agreement (FTA) between India and the European Union at the Special Plenary Session of the second CII India Europe Business and Sustainability Conclave held on February 22.

Goyal emphasized the principles of fairness, equity, and balance in FTA negotiations, asserting India’s trajectory towards achieving a USD 35 trillion economy by 2047.

“We believe that Free Trade Agreements or bilateral agreements have to be fair, equitable and balanced. Countries across the globe need to recognise that India as a rapidly growing country, is poised to become a USD 35 trillion economy by 2047, ” Goyal stated.