Europe has reached a free trade agreement with India, hailing it as “the mother of all deals” in its uniting of the world’s second- and fourth-largest economies.
European Commission President Ursula von der Leyen said the deal sends out a “strong message that cooperation is the best answer to global challenges”, as the US continues its combative tariffs policy. She added this deal will cut up to €4bn in annual tariffs for exporters of all sizes.
In the energy sphere, she said it would set up EU-India Innovation Hubs and their best talents “will get to work to advance clean energy and frontier technologies”, while a startup partnership will also be launched.
Working groups will be assigned to boost energy security and efficiency along with a task force on green hydrogen to foster cooperation on production, storage, and distribution.
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