India and the European Union announced setting up of a new Trade and Technology Council (TTC).
The TTC is a strategic coordination mechanism that will allow both partners to tackle challenges at the nexus of trade, trusted technology and security.
Under the TTC, three working groups have been established.
The first working group is on strategic technologies, digital governance and digital connectivity.
The second one will cover green and clean energy technologies.
The third working group is on trade, investment and resilient value chains.
The ministerial meetings of the TTC will take place at least once a year, with the venue alternating between the EU and India.
It is the second such TTC after the first one with the United States that was firmed up in June 2021.