Delegation of the European Union
to the United Nations - New York

India and the EU

17/10/2016 - 11:23
EU relations with Region

The EU works closely with India to promote peace, create jobs, boost economic growth and enhance sustainable development across the country.

In 2019, the European Union and India marked 57 years of diplomatic relations. EU-India relations now span many areas, including cooperation on regional, global and security issues, close trade and economic ties, sectoral dialogues on sustainable ddevelopment and modernisation, research and innovation as well as people-to-people contacts.

As long-standing partners, India and the EU are committed to dynamic dialogue in all areas of mutual interest as major actors in their own regions and as global players on the world stage. The world's two largest democracies share key values and principles such as democracy, freedom, the rule of law, human rights and the promotion of peace and stability.

The 2017 EU-India Summit was a milestone and gave momentum to the strategic partnership. It reiterated cooperation on political, security, human rights, global and sectoral issues, including ICT, research and innovation, clean energy and climate change and sustainable urbanisation.

The years 2018-19 witnessed further progress in the partnership with the EU presenting a new vision in 2018 to strengthen the cooperation with India,'EU Strategy for Relations with India', placing emphasis on foreign policy and developing defence cooperation, promoting effective multilateralism and building on common values and objectives.

Political relations are also strengthened by the regular exchange visits between EU and Indian parliamentarians. Visits and people-to-people contacts, including expert meetings and think tank contacts, academic and student exchanges, cultural and other activities complement the multiple official interactions.

Origins of the Strategic Relation

The 1994 EU-India Cooperation Agreement provides the legal framework for EU-India relations and boosted political, economic and sectoral cooperation. EU-India relations have evolved significantly since the commencement of annual summits in the year 2000. In 2004, the official declaration of the EU-India Strategic Partnership took the relationship a step further.

There have also been regular dialogues on regional and global issues of shared interests. The EU and India have regular foreign policy and security consultations and pursue cooperation on security issues such as counter-terrorism, cyber-security, counter-piracy/maritime security, non-proliferation and disarmament. There are close contacts in multilateral forums and interactions during regional or international events and a shared commitment to enhance cooperation on common priorities further, including on human rights issues.

In the last few years, EU-India relations have evolved. As India has graduated from bilateral development assistance, reflecting its fast-paced economic growth, it has become a strategic development partner engaged with the EU on a wide range of issues. The EU and India have over the years successfully joined forces to foster inclusive economic development, promote good governance, protect environment including improving energy efficiency, support civil society and promote access to quality of education and health.

With the new EU-India Strategy (2018) coming into place, stromg emphasis is made on the importance of common responses to global and regional challenges which can broaden the EU-India cooperation. The strategy has also confirmed the relevance of the initiatives and sectors in which the EU development cooperation are undertaken, namely:

  • Green Deal- new growth strategy towards fair and prosperous society with a modern resource efficient economy
  • Governance, Peace and Security towards sustainable development

The EU's development cooperation in India, currently focuses on supporting India's transition to an upper middle-income status by addressing some of its key development priorities, such as sustainable and inclusive growth, job creation and building sustainable infrastructure and human capital.

The EU has been adapting its tools to fit such purposes. In particular, its blended finance facilities provide a support mechanism to deliver investments in India-blending grants with loans to de-risk and/or maximise investments and build capacities- leveraging public funds to meet critical development needs.

EU development assistance to India, which amounted to more than 940 million during the 2005-2017, was utilised to deliver sustainable growth and address global challenges. The current portfolio of development cooperation projects in India amounts to more than 100 million in commitments. Most of the work focuses on areas identified by the EU and India as strategic, such as greening of the economy, renewable enrgy and energy security, sustainable urbanisation and disaster resilience. The EU adopts a coordinated approach in all its external actions to further strengthen existing partnerships with India such as on clean energy and climate; water; smart and sustainable urbanisation, and environment. It also works closely with Civil Society Organisations within the framework of the jointly identified areas to adddress social issues including gender balance, socio-economic inclusion, transparency, accountability and democratic values.

ECHO in India

Through its humanitarian aid department, present in India since 1995, the EU has responded to all major emergencies including Tsunami in the Indian Ocean in 2004, Kashmir earthquake in 2005, Bihar floods in 2007, cyclone Aila in 2009, Kerala floods in 2018, and floods in Assam and Bihar in 2019.

Since it first began operations, the EU has contributed more than 130 million to address the urgent humanitarian needs of people in India. Funds are allocated strictly on the basis of the humanitarian principles of independence, impartiality, humanity and neutrality to ensure access to those in need.

To minimise disaster risks, an important area of EU's humanitarian work in India is preparing communities. The EU implemented various disaster preparedness programmes in 12 disaster-prone states between 2001-2013. Through initiatives such as early warning systems and adaptation of physical infrastructure, the programmes have helped mitigate the impact of natural disasters, including floods, cyclones, earthquakes and other hazards among vulnerable communities. Its total contribution to this end exceeds 8 million.

Over the past decade, the disaster preparedness has also been mainstreamed into EU-funded humanitarian response projects, ensuring shelters, improved sanitation and water pumps built-in flood prone areas designed to withstand future inundations.

India and the EU are two of the world's largest economies having shared synergies and offering significant trade and investment opportunities. The EU, with its 27 Member States, is India's largest trading partner in goods and services, with bilateral trade (goods & services) of over €100 billion.  

In 2019, the total value of EU-India trade in goods stood at 79.59 billion.  The EU is in fact the main export destination for Indian goods, absorbing 14.4% of the total exports (41.4 billion). Trade in goods is also relatively balanced, with India enjoying a trade surplus.

Bilateral trade in services has also seen steady increase reaching  €30 billion in 2018. The EU exported services worth 14.2 billion, while it imported 15.4 billion in 2018. Thus, trade in services is also relatively balanced, with the EU having a deficit of 1.2 billion. Telecommunications, computer and information services, travel, transport and other business services account for ~86% of the EU's services exports to India.

The EU is also a leading investor in India accounting for 22%(about €10 billion) of the total FDI inflows in 2019-20. On the other hand, EU was the third largest recipient of Indian FDI in 2019-20, with EU accounting for 14%( €2.5 billion). Close to 4,500 EU companies in India employ 6 million people (directly and indirectly).

India's rapid economic growth over the last decade has helped the country become the seventh largest by nominal GDP and fourth largest by purchasing power parity(PPP) globally. The country's 1.3 billion population, including a thriving middle class, make it an attractive destination for investments. On the other hand, the EU's 27 Member States form the world's single largest market comprising 450 million citizens.

Fostering an Important Economic Relationship

Both India and the EU have a common interest in preserving and strengthening the rules-based multilateral trading system by cooperating more closely in addressing the challenges facing the World Trade Organisation(WTO). To this end, both the major trading powers are committed to free and fair trade for achieving sustainable development.

Another key dimension of the EU-India partnership is to ensure a high-level of investment protection in order to remain attractive destinations for new investments.

The EU and India hold regular bilateral meetings, covering trade barriers as well as economic and regulatory matters. These include the EU-India Sub-Commission on Trade and its specialised Joint Working Groups, including SPS/TBT, Agriculture and Marine Products, ICT, Pharmaceuticals and Biotechnology and Medical Devices.

The EU-India macroeconomic and financial regulation dialogues have confirmed thr gwoing strategic importance and potential for closer bilateral cooperation and coordination between the EU and India within the existing multilateral frameworks, including the G-20. Cooperation has also been intensified on sustainable finance with India joining as a founding member of the International Platform on Sustainable Finance, an EU initiative launched in Oct, 2019.

Business Cooperation & EU's Business Advocacy

In order to strengthen the conclusions reached at the 2017 EU-India Summit, the 'Business Support to EU-India Policy Dialogues' Project aims to spur enhanced bilateral business cooperation. This entails carrying out technical market studies, constituting a database of EU companies offering technical solutions, creating an online platform to share information on business opportunities and connecting Indian and EU businesses. The objective is not just to facilitate business cooperation but also support transfer of advanced EU technologies and innovative practices, which can be adopted to the local needs and provide better and affordable solutions. Business cooperation aims to identify European technical and business solutions, which can be aligned with the demand in India, enhance discussions on regulatory aspects and standards and disseminate information regarding European best practices in key sectors for a diversified presence of EU companies in India.

The European Business Group (EBG) and European Economic Group(EEG) are two vital advocacy groups working closely with relevant stakeholders to provide a thrust to the trade between India and the EU.

Founded in 1997, the EBG Federation, based in Delhi and chapters in Mumbai, Bengaluru and Chennai, offfers support and advocacy for European businesses in India by bringing together companies of different sectors to discuss best practices, share information and collectively resolve common issues. The EBG publishes and distributes a 'Position Paper' to all key and relevant stakeholders in the government of India and the EU Member State embassies each year. This paper, expressing relevant concerns of various businesses in India and proposing policy reforms conducive to improving the overall business climate, is an important reference point for European Commission in its bilateral deliberations.

Led by Chairman of the EBG as its spokesperson with the implementation partner of the project, European Business and Technology Centre(EBTC), the EEG is a Working Group responsible for reinforcing EU's business advocacy and removing trade barriers for European companies in India. Positioned as a single European voice for business advoacy, EEG aims to enhance bilateral business cooperation and facilitate a more synchronised ecosystem with a separate focus on SME-related business.

EU-the world's largest trading block

The EU is the world's largest trader globally with a sizeable share of the world's imports and exports. It is also the world's largest exporter of manufactured goods and services and the biggest import market for more than one hundred countries.

Free trade among its members was one of the EU's founding principles, and it is committed to liberalising world trade as well. Free Trade Agreements with over 70 markets globally have been effective in removing barriers to trade and promoting high standards of labour and environment protection. In recent years, the EU has concluded FTA negotiations with South Korea, Singapore, Canada, Vietnam, Japan and Mexico.

In this 'borderless' Europe, people and products can move freely from one place to another. The 27 Member States of the EU share a single market, a single external border and a single trade policy. EU Member States have agreed to poool their sovereignty and follow a common policy on international trade. It means there is one negotiation, one negotiator- the European Commission- and at the end of the process, just one agreement instead of 27 different sets of trade rules with each of Europe's trading partners. The Commission also represents the EU Member States in the WTO.

International cooperation on research and innovation (R&I) is very high on the European Union's agenda and is an integral part of the EU-India Strategic Partnership. Increased collaborative efforts on R&I can play an important role in addressing societal challenges such as climate change, public health, clean energy or connectivity and achieve the Sustainable Development Goals.

The main task of the R&I Section includes reaching out to the Indian scientific and innovation community in view of cooperation under the EU's framework programme for research and innovation ’Horizon 2020’ (2014-2020), to be succeeded by Horizon Europe(2021-2027) All cooperation with India is on a competitive basis, with calls of proposals published on the Horizon 2020 funding and Tender portal, the EU Website and through Euraxess India. Since 2018, the focus has been on the innovation dimension with the creation of a Network of European and Indian Incubators, allowing to stimulate co-creation and development. The section works in close cooperation with the Government of India, mainly the Department of Science and Technology (DST), the Department of Biotechnology (DBT) and the Ministry of Earth Sciences (MoES), to establish topics of cooperation of mutual interest and the co-funding modalities and with Invest India on innovative actions.

Furthermore, it is working in close cooperation with the Science and Innovation Counsellors of the EU Member States (27) and the countries associated with the EU research programme (currently 16 countries) which facilitates finding European for collaborative research with Indian universities, research institutes and Small and Medium Enterprises on hosting an Indian researcher pursuing career in and across Europe.

For more information, please reach out to  DELEGATION-INDIA-RI@EEAS.EUROPA.EU

More Information

Stay connected to EU Delegation website for regular updates of events on R&I and calls of proposals

Resource Efficiency and Circular Economy

Aspirations of a rising population in an increasingly resource constraint world entails new growth models which allow pursuit of economic development in a sustainable manner. Resource efficiency and circular economy models are thus vital to decouple economic growth from resource use and its negative environmental externalities, especially to achieve the United Nations Sustainable Development Goals(SDG).

The EU's adoption of an ambitious Circular Economy Package in 2015 has helped it gain valuable experience in diverse areas inclusing research and innovation, new models of funding and investment and innovative collaboration platforms. Furthermore, the new European Green Deal aims to prioritise a new circular economy action plan to achieve its objectives.

The EU recognises that maximising benefits from the circular economy model will require its adoption at a global scale, which can only happen through effective collaboration and partnerships. India, with a projected per capita material requirement of 15 billion tonnes by 2030, three times the demand in 2010, faces environmental and social challenges arising from material availability. Hence, Resource Efficiency and Circular Economy models can help the country realise significant economic gains as well as social and environmental benefits. The EU's cooperation with India under the EU-India Resource Efficiency Initiative, launched in 2017, and being implemented together with the Ministry of Environment, Forest and Climate Change(MoEFCC) and the Niti Aayog aims to develop strategies for resource efficiency in transport, buildings, renewable energy, waste recovery and other sectors through partnerships between businesses, NGOs and academia. The initiative aims to mainstream Resource Efficiency in the Indian economy and industry based on a life-cycle approach, and create an ecosystem for improving resource security and minimising environmental impacts. The main components of the EU-India cooperation for resource efficiency are Policy Support, Assessment Studies, Facilitating Partnerships between Indian and European businesses and other stakeholders and raising awareness amongst different stakeholders. 

For more details, please visit the below link:

https://www.eu-rei.com

PDF iconrei_brochure.pdf

Clean Air

India's rapid growth and development has led to massive urbanisation with more than 10 million people moving to towns and cities every year. Severe pollution, including air pollution due to increased traffic, construction and burning of waste are increasing emissions and impacting lives. The overall objective of the Air Quality Initiative is to assist India in air quality management and the EU has been working with 3 major Indian cities sharing the EU's know-how on air quality and partnering with India to address air pollution by developing a national strategy for ambient air pollution, especially in urban air settings. Follow-up actions are being designed at present.

Sustainability, Clean Energy and Climate Action Brochure


India, home to 17.5% of the world's total population, has 2.45% of the earth's land area and receives abundant rainfall over a few weeks. Its growing reliance on groundwater(65% for irrigation and 85% for drinking water) is leading to falling water tables and increasing competition between users. With less than 40% of wastewater in towns connected to a municipal sewage system, water pollution is increasingly responsible for illness and declining environmental quality.

The EU is working closely with India to help improve its water resource management through the India-European Union Water Partnership (IEWP) Agreement of 2016. The agreement signed by the then EU Commissioner for Environment, Karmenu Vella and India's former Minister for Water Resources, River Development & Ganga Rejuvenation, Uma Bharti, laid emphasis on cooperation in areas like water law and governance; promotion of research, innovation and exchange of business solutions along with joint initiatives to rejuvenate the iconic Ganga river and India's other water bodies. Implementation of the India-EU Water Partnership is being done by bringing together a wide community of stakeholders from both sides through technical exchanges & workshops, annual water fora and creation of business and networking opportunities. The actions of the Partnership are a valuable contribution, not only to improve the water management but also to rethink, reassess and reorient water policy in India. Under the IEWP, a Joint Working Group comprising of representatives from the Ministry of Jal Shakti as well as Department of Water Resources, River Development and Ganga Rejuvenation, GIZ and the EU, are working together on nine priority areas related to water resources management as well as River Basin Management. The overall purpose of IEWP action is to facilitate cooperation between India and coalition of EU Member States on water-related issues along with fostering business opportunities for EU companies, who can contribute to efficiency and sustainability of water management in India.

IEWP works actively with other partners including think tanks, research organisations and other leading institutions in the domain.

Europe, which has achieved considerable success in improving its water quality through the Water Framework Directive(WFD), can help emulate improved water resource management. Adopted in the year 2000, the WFD entailed Member States preparing River Basin Management Plans with the objective of reaching good chemical and ecological standards defined by common standards.

For details on the India-EU Water Partnership, please check the link:

https://www.iewp.eu/

PDF iconwater_brochure.pdf

The European Green Deal puts clean energy and climate action at the top of the EU's domestic and external agenda. In these areas, the objectives of the EU and India strongly converge with both wanting to reduce their dependency on import of fossil fuels, diversify their energy supply and increase their energy efficiency and share of renewable energy. Both are strongly committed to the implementation of the Paris Agreement.

Therefore, the EU and India are closely cooperating on ensuring affordable, clean and secure energy and on climate adaptation and mitigation. The framework for this cooperation is the India-EU Clean Energy and Climate Partnership (CECP), agreed at the EU-India Summit on 30 March 2016 and later confirmed in a joint statement at the EU-India Summit on 6 October 2017. The cooperation focuses on energy efficiency, renewable energy, smart grids, sustainable cooling, financing and the implementation of the Paris Agreement. It aims at bringing together policy makers, researchers, businesses and stakeholders from India, the EU and its Member States to exchange information, cooperate and learn from each other.

The Partnership is implemented through several projects, which are set out in more detail on a dedicated website.

www.cecp-eu.in

It is estimated that by the year 2050, the number of people living in Indian cities will touch 843 million. Rural to urban migration is intense, affecting 10 million people per year in India. Challenges faced by cities such as overcrowding, pollution, social and technical constraints are substantial. The Indian government has taken up the challenge by launching the AMRUT( Atal Mission for Rejuvenation and Urban Transformation) programme and more recently the 100 Smart Cities Mission, with the aim of improving services and developing public transport, sewarage, water supply and public green spaces.

The EU has responded to India's urbanisation challenges through a number of initiatives:

  • Joint Declaration on Partnership for Smart and Sustainable Urban Development (EU-India Summit in Oct 2017) contributing to India's flagship programmes such as Swachh Bharat and the 100 Smart Cities Mission and AMRUT. This addresses challenges of governance and regulation, infrastructure funding, sustainable transport, resource efficiency and waste management converging in joint research, policy dialogue, exchange of best practices, setting up of platforms for business solutions and financing models for sustainable urban development by bringing together all relavant stakeholders.
  • EU-Mumbai Partnership: Launched in 2013 with the aim to look into innovative solutions for issues faced by a megacity, it has led to dialogue on all major sectors with establishing robust ties between EU and Maharashtra, a state contributing to about 13% of India's GDP.
  • World Cities Programme: Experts from Pune, Chandigarh, Mumbai and Navi Mumbai have teamed up with European cities Stuttgart, Lazio and Copenhagen to develop sustainable projects.
  • Ecocities Project: With a 9 Million contribution from the EU out of an estimated total cost of 12 Million, it is being implemented by the IFC, part of the World Bank, in five cities including Bangalore, Bhubaneshwar, Chennai, Jamshedpur and Mumbai. It aims at developing increased use of renewable energy, promoting energy efficiency and SME clusters through public private partnerships and other funding mechanisms.
  • International Urban Cooperation: Sustainable and Innovative Cities and Regions(https://iuc.eu/): Launched in April 2017, the program comprises of pairing 12 Indian and EU cities for sustainable urban development as well as supporting Global Covenant of Mayors Climate and Energy (https://www.globalcovenantofmayors.org) by setting up the Covenant of Mayors of India and supporting cities to join.
  • Urban Local Bodies: The EU is working to promote integrated urban management and improving basic municipal services such as water, sanitation and solid waste management in Raisen, Burhanpur in Madhya Pradesh; Kishangarh and Jaisalmer in Rajasthan; Solapur, Pune and Ichalkaranji in Maharashtra.

The European Investment Bank is the lending arm of the European Union. It is the biggest multilateral financial institution in the world and one of the largest providers of climate finance. The EIB helps the economy, create jobs, promote equality and improve lives both for EU citizens and for people in developing and emerging countries. In India, and in Asia more generally, EIB clients are primarily governments, policy banks and state-owned companies, and in some cases commercial banks and businesses.

The EU's CLIMATE ACTION BANK

Climate change is one of the greatest global challenges of its time. Immediate and coordinated action is crucial to overcome its effects. The European Investment Bank, as the EU's climate action bank, has made climate action one of its top priorities and today is one of the largest multilateral providers of climate finance worldwide.

Ahead of the 2019 United Nations climate change conference in Madrid, the EIB Board of Directors approved a new set of targets for climate action and environmental sustainability, drastically increasing the EIB's ambition for the critical decade to 2030 which includes support for €1 trillion of investments in climate action and environmental sustainability in the critical decade from 2021 to 2030.

Today, the EIB commits more than 25% of its financing to climate change adaptation and mitigation and will gradually increase this share dedicated to climate action and environmental sustainability to reach 50% of operations in 2025 and beyond. The EIB has already provided USD 100 billion to climate-related projects in the five years from 2016 to 2020, as it helps turn the COP21 ambitious Paris agreement into reality.

SUSTAINABLE FINANCE

The mission of the European Investment Bank is to foster sustainable growth within the EU and abroad. Sustainable Finance is at the heart of the EIB Group and shapes its activities and investment decisions. The EIB is firmly committed to sustainable development, which is anchored in its strategy and remains the foundation of the EIB's business model.

The EIB apprises and monitors all the investment projects it finances with regard to their sustainability credentials such as environmental, social and governance aspects. The EIB makes a separate economic appraisal of all its investment projects to assess the costs and benefits to society as a whole. Only projects that fulfil both financial and a separate sustainability due diligence can be financed by the EIB. Projects financed by the EIB also have to comply with EU Environmental and Social Principles and Standards to incorporate environmental and social sustainability considerations into EIB investments.

THE EIB IN INDIA 

The EIB has supported long-term investment projects in India for over 25 years, bringing the experience and expertise of its in-house engineers and economists to help develop and appraise top quality projects. As of today, the EIB has approved €3.4 billion for India, of which €600 million still need to be signed. These operations have helped mobilise some €10.2 billion of investment in India's infrastructure.

The EIB's financing in India over the last six years has been 100% climate action, contributing both to the EIB's own ambitious climate action goals and to the climate strategies of the Indian government. Most recently, the Bank's Board approved in December 2019 financing of €400 million for the Bhopal metro.

The EIB opened its Regional Representation for South Asia in New Delhi on March 31st, 2017 and is hosted within the offices of the Delegation of the European Union. EIB Vice President Andrew McDowell recently visited Pune and Mumbai in January 2020, meeting the Chief Minister of Maharashtra, representatives of the State Government of Goa, Indian partner organisations, whilst hosting two seminars on urban public transport and sustainable finance for resilient urban infrastructure respectively. The EIB's President, Werner Hoyer last visited India in March 2018 for the inauguration of the International Solar Alliance, meeting PM Modi and Minister Piyush Goyal during his visit.

As an AAA-rated, policy-driven EU financial institution, the EIB offers attractive financial terms-competitive interest rates with loan durations aligned with the projects. Through its partnerships with the EU and other donors, the EIB can often provide grants to further improve the development impact of the projects the EIB support.

Through its financing, the EIB acts as a catalyst to attract the funding needed to meet the UN's Sustainable Goals for 2030. In India, and in Asia more generally, the EIB has chosen to focus its lending on climate action across all sectors. The EIB also works to include gender equality in its projects, ensuring that women, men, girls and boys can benefit from projects equally and equitably.

ENSURING URBAN MOBILITY IN INDIA'S BIG CITIES

India's rapid growing population and increased economic development are straining the country's transport systems and posing serious environmental challenges. For the past five years, the Bank's financing has changed the way millions of people move- and breathe- in some of India's most heavily populated cities.

  • Lucknow Metro- a €450 million loan from the EIB is expected to increase the share of public transport services from 10% to 27% by 2030
  • Bangalore Metro- a €500 million EIB loan for the new metro line is expected to cut travel times for some journeys from two hours a day to just 15 minutes
  • Pune Metro- a €600 million loan will support the construction of two metro lines, which includes 31 kilometres of tracks and 30 stations
  • Bhopal Metro- a €400 million loan for the construction of two lines of metro totaling 31 km with 30 stations and purchase of a related fleet of metro cars

Transport is the key to growth and competitiveness, as it provides the physical networks enabling the movement of people and goods. Better mobility provides access to jobs and social services such as hospitals and schools that contribute to the improvement of people's lives.

BACKING INDIA's RENEWABLES REVOLUTION

The promotion of sustainable, competitive and secure sources of energy is a key EU policy objective and an important sector of EIB financing worldwide. In support of the sustainable generation and transmission of energy, the EIB not only finances mature renewable energy technologies, such as onshore wind farms, hydropower, geothermal and solid biomass, but also strongly encourages the expansion of early-stage of evolving techologies, such as offshore wind, photovoltaic, concentrated solar power and second-generation biofuels.

Energy accounts for almost one-half of the EIB's portfolio in India, amounting to €1.6 billion. The Bank has supported investments in the generation and transmission of energy, most notably large-scale solar parks and wind farms across 7 states in India.

INVESTING IN INDIAN PRIORITIES

The EIB gives priority to the following types of projects in India, and Asia more generally

  • climate change mitigation and adaptation (e.g renewable energy, energy efficiency, urban transport and other projects that reduces CO2 emissions)
  • development of social and economic infrastructure, including water and sanitation
  • local private sector development, in particular support to SMEs

Projects with a total investment above €25 million can be financed either directly to a project promoter or indirectly through a government or financial intermediary. Project promoters are required simply to provide the EIB with a detailed description of their capital investment together with the prospective financing arrangements. The total investment of a typical project in India is typically above €100 million.

For smaller projects, the EIB provides credit lines to selected partner financial institutions, which then on-lend the funds mainly to small and medium-sized enterprises(SMEs). The financial institutions assess each project, assume the credit risk and set the loan conditions for the final beneficiary according to criteria agreed with the EIB.

For more information, the EIB can be reached at : newdelhi@eib.org

India and the EU have engaged to strengthen links between their flagship initiatives such as Digital India (https://www.digitalindia.gov.in/), European Digital Strategy (https://ec.europa.eu/digital-single-market/en/content/european-digital-strategy) and the Digital Single Market for Europe (https://ec.europa.eu/digital-single-market/en/policies/shaping-digital-single-market).

Regular dialogues take place within the Joint ICT Working Group, focusing on market access issues for companies on both sides, regulatory issues, ICT standardisation, and research and innovation(including startups). These meetings are complemented by ICT Business Dialogues. Furthermore, a Cyber Security Dialogue focuses on exchanging best practices on addressing cybercrime and strengthening cyber resilience.

The EU supports technical cooperation between the Indian and European telecom standardisation bodies (TSDSI and ETSI) on future global standards on 5G, Intelligent Transport Systems/ Internet of Things, future networks, and security issues.

New cooperation avenues are developing in the areas of Artificial Intelligence(AI), data protection and privacy, and cyber security to address the challenges in emerging technologies.

PDF iconict_brochure.pdf

Partnership Instrument(PI) is the EU's instrument specifically designed to support the Union's working with strategic partners worldwide. It does so by offering policy support to respond to global challenges, projecting the international dimension of Europe 2020, enhancing discussions on market access and boosting trade, investment and business opportunities, and promoting public diplomacy and academic cooperation.

This instrument facilitates EU's cooperation with strategic partners worldwide to jointly advance on mutual strategic interests and tackle global challenges. Additionally, it funds activities to forge ahead the EU agenda with partner countries, translating political commitments into concrete measures. PI enables the EU and its strategic partners to jointly shape the global change and to promote joint core values.

PI offers a different approach to the established models of development cooperation by promoting policy cooperation with strategic partners of the EU allowing establishment of a wider political dialogue with such partners. It also supports the EU's relations with countries that are no longer eligible for bilateral development aid. PI supports project activities in India in the areas of clean energy and climate partnership, water partnership, resource efficiency, smart and sustainable urbanisation, aviation, digital cooperation, biodiversity, migration and mobility, competition cooperation, business support, public diplomacy, engagement with the civil society, think tank cooperation, business and human rights, women's economic empowerment, security, implementation of the Paris Agreement, and others.

 Link to projects: https://pimap.eu/

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