SME Times News Bureau | 14 Apr, 2021
Minister of Commerce and Industry Piyush Goyal on
Tuesday said that India can prove to be the most natural ally for the European
Union (EU).
Addressing the ambassadors of the EU member
states today, he said that Partnership of EU and India can emerge as a model of
Good governance, Growth & Development.
Goyal said that India & EU’s ‘Union of
Diversity’ shares values of Democracy & Rule of Law. They also share strong
economic, socio-cultural, strategic and political ties.
He said that India and EU are one of the world’s
largest markets. EU countries collectively are the largest trading partner for
India, as well as one of the largest investors in India. India-EU import-export
flows are balanced and complementary.
India-EU collaboration in research and innovation
has expanded significantly, and there is large scope of further enhancement of
engagement.
Talking about COVID-19, the Minister said that
the year 2020 has tested world’s resolve and determination. He said that India
imposed the strictest lockdown as we strongly believe “Lives matter”.
During the lockdown, we were able to prepare
ourselves and our infrastructure like ventilators, ICU beds, PPE kits, etc.
Despite the lockdown, we met our international
commitments, particularly in services & didn’t allow any value chain to get
affected. We ensured essentials commodities like food grains, vegetables, milk,
medicine etc reached each home, he added.
Goyal said that after the gradual unlocking,
Government’s efforts brought the economy back to the near normalcy. It
maintained a delicate balance between lives & livelihoods.
He said that the Government is conscious of the
fact that COVID-19 numbers in 2nd wave are even more worrisome. He assured that
the government is taking various steps to control the pandemic, while also
protecting livelihoods.
Goyal said that during COVID-19, investments have
fallen worldwide, but they have grown in India. It shows that the world also
appreciates & recognises India’s true potential, which is clearly evident
by record FDI and Portfolio numbers, even during the COVID-19 year.
The Minister said that as the aftermath of the
crisis is unfolding, Prime Minister with a spirit of “turning crisis into
opportunity” gave a clarion call for Aatmanirbhar Bharat i.e. Self-Reliant
India.
He said that Aatmanirbhar Bharat does not mean
being protectionist but it focuses on producing for India & the world –
idea is to make India Global Manufacturing Hub, particularly in areas where our
country has competitive strength.
Goyal said that combination of India’s
manufacturing & EU’s innovation capacity can be a game changer. Calling for
Resilient India-EU relations, he said that India & EU should look at vast
areas of Convergence.
He said that India looks forward to advance the
negotiations towards an agreement between India & EU on Investment
facilitation & Protection for mutually beneficial outcome.
He emphasised on the need for proportional &
simultaneous discussions on both trade & investment, so that, we have
balanced outcome for both parties.
The Minister called for Early Harvest agreements,
which he said are fully WTO compliant. He called for addressing the Non-tariff
barriers on both sides.
Goyal said that following the principles of
‘Vasudhaiva Kutumbakam’, India has sent more than 65 million COVID-19 vaccines
to over 80 countries around the world.
He said that India has proposed TRIPS waiver at
WTO for a limited period so that humanity at large could have access to the
COVID-19 related products, and sought the support of EU on the issue.
Goyal also stated that WTO Reforms are a shared
objective of India & the EU. He said that he is looking forward to
working with the European counterparts to pave the way for the EU-India Summit
in Porto in May this year.