New Delhi: Jon Simonsson, Senior Director at the Prime Minister's Office in Sweden, stated that the European Union possesses the "political will" to pursue a Free Trade Agreement with India.
"There is significant political momentum within the EU to advance and establish an FTA with India, which I believe will accelerate developments," Simonsson remarked to ANI during the Carnegie Global Technology Summit.
He emphasized the numerous shared interests between the EU and India, expressing optimism about increased collaboration in this domain. "The political will exists, making it clear that taking action in this area is essential," he noted.
The negotiations for the India-European Union (EU) Free Trade Agreement (FTA) were officially re-initiated on June 17, 2022, following the announcement made by India and EU leaders in Porto on May 8, 2021.
These negotiations encompass 23 policy areas or chapters, with several rounds of discussions already conducted.
Additionally, regarding India's potential in leveraging artificial intelligence, the Swedish official highlighted the country's robust ecosystem of startups, engineers, and technical universities.
"It is crucial to create the right environment for these individuals to innovate and experiment. One of the advantages China has enjoyed is its strong culture of learning and innovation. India shares this trait, but we must facilitate easier pathways for students and entrepreneurs to pursue their initiatives," he added.
He emphasized that funding such technology is crucial.
"Certainly, securing financing is a vital component for implementing that kind of experimentation. With over 100 unicorns now established in India, there are entrepreneurs who can contribute to society by investing in new startups that replicate successful models. Therefore, I believe India has a significant opportunity to leverage and nurture its rapidly expanding ecosystem," the Swedish official remarked.
