'EU Global Gateway to be part of new economic corridor'

The European Union’s Global Gateway strategy for boosting clean and secure links in the digital, energy and transport spheres is set to be part of the ambitious India-Middle East-Europe Economic Corridor (IMEC) that will create a network of railways and ports, EU ambassador Ugo Astuto said on Tuesday. In an interview ahead of completing his tenure in New Delhi, Astuto said that collaboration between India and the EU for a coordinated European naval presence in the Indo-Pacific is set to grow to ensure that the region remains free and open. Edited excerpts:

 

As you complete your term in India, how would you assess India-European Union (EU) relations since the time you came to New Delhi?

I was privileged to serve in India with the EU in the past four years because, in this period, we have seen enormous progress in our strategic partnership. Let’s start with the India-EU summit in 2021 in Porto, which was an extraordinary summit because you had all the member states meeting the Indian prime minister, and there we had the momentous decision to restart the free trade agreement (FTA) talks. Another landmark was the visit of European Commission president Ursula Von der Leyen in 2022 and the very significant decision to start the Trade and Technology Council (TTC). The only other one we have in place is with the US. That’s a clear element of the level of maturity of our relationship.

Then there was the G20 Summit and the decision on its margins to launch the India- Middle East-Europe Economic Corridor together with the US. So, if you look at this, you see a partnership which is going from strength to strength and it’s also broader. Yes, we have the economic dimension, we also have the political dimension and then we have a dimension which is very important to India and the others - which is how to address global challenges like climate change and digital transition. 

How would you characterise the current status of negotiations on the India-EU FTA? What are the contentious areas? For example, there is the EU’s Carbon Border Adjustment Mechanism (CBAM) and how do we get over the contentious issues?