Speaking to CNBC-TV18, Roxana Minzatu, Executive Vice President of Social Rights & Skills at the European Commission, emphasised that “EU and India must grow together for a sustainable future.”
Minzatu highlighted the deep economic interdependence between India and the EU, noting that together, they account for a quarter of the global GDP. In 2024 alone, the trade exchange between the two reached 120 billion euros. Additionally, over 6,000 European companies operate in India, generating employment and contributing to skill development.
“We are living in disruptive times,” Minzatu stated, “but these are times when traditional partners like the EU and India must come together, not just for economic reasons, but also because we share values such as democracy, predictability, and an order-based global system.”
The EU is keen to enhance its competitiveness while ensuring clean, green economic growth—an ambition it shares with India. Minzatu pointed out that the newly established EU Competitiveness Compass serves as a strategic framework to drive innovation, investment, and sustainability. “We cannot grow in isolation. Cooperation, exchange, and free trade are essential ingredients for mutual prosperity,” she said.
Meanwhile, Ekaterina Zaharieva, EU Commissioner for Startups, Research & Innovation, highlighted that the EU and India are actively exploring collaboration in critical sectors such as AI, quantum computing, biotech, and semiconductors. Zaharieva highlighted three major joint initiatives:
1. Plastic Waste Management: With India generating 10 billion tonnes and the EU producing 16 billion tonnes of plastic waste, both regions have committed 20 million euros towards joint research on recycling solutions.
2. Electric Battery Recycling: By 2030, an estimated 200 million batteries will require recycling, presenting both a challenge and an economic opportunity.
3. Green Hydrogen from Waste: As Europe targets carbon neutrality by 2050 and India by 2070, converting waste into clean hydrogen presents a promising path for sustainable energy.
This marks the first visit outside Europe for the new college of commissioners and is the largest EU delegation ever to visit India. It also comes at a time when EU-US relations are strained, with US President Donald Trump threatening 25% tariffs on European goods.
Below are the excerpts of the discussion.
Q: What is the significance of the India-EU bilateral meeting?
Minzatu: We are living in disruptive times, times where I think it’s all the more natural for two traditional partners, like European Union and India, come together for economic reasons, but for values, let’s say, as well. We share some values, like predictability, democracy, order-based rules. And so, these are values that connect us naturally. And of course, economy is an important part of the reason why we are together.
If you look at the European economy and the Indian economy, we amount to a quarter of the global GDP. That really says something. And if we look at the exchanges of goods that the EU and India have had in 2024, it’s 120 billion euros. Impressive, impressive amounts. Also, for Europe, there are, of course, obvious reasons why we want to enhance our economic and political cooperation. There are more than 6,000 European companies that are here in India creating jobs.
India is also a country that is producing tremendous talent, and of course I am in charge with skills, and we have talked a lot about how important it is to exchange on talent, on skills, on mobility, and that helps us both from the perspective of our economies, but from the perspectives of offering opportunities to our people, opportunities to have good careers, good jobs, to launch start-ups, to improve the soundness and the strength of our societies.
Q: As EU Commission President Ursula von der Leyen said that Make in India and Make in Europe are complementary and they can support the industries of the two countries. I’d like to speak about geopolitical competition in both technology and manufacturing. This will also require countries to increase their competitiveness. What are you doing to increase the competitiveness of the European Union? What’s the task at hand?
Minzatu: We had a new commission in January. We started our mandate on December 1, and in January, very soon into the mandate, we’ve adopted this competitiveness compass, which is, let’s say, the way that we will filter every policy that we will adopt as commission, will be driven towards competitiveness, innovation and clean growth. Clean green economic growth is something that we share with India, the ambitions of net-zero economies with different timelines, but we share these. So of course, we need to put all the ingredients towards competitiveness, more investment, top-notch technology, of course, a stronger single market inside the union, more partnerships with key, let’s say, stakeholders in the global arena. And I think India is absolutely a key stakeholder. It’s part of Ursula von der Leyen’s political guidelines. And of course, investing in people and investing in skills. So that is the recipe that we are intending to use to create much more competitiveness and productivity in the European economy. But the idea that is behind our reunion today in Delhi, and that is heading towards the strategic agenda that we want to build together, is that we cannot grow separate from the rest of the world.
We share this notion that we grow together, cooperation, exchange, free trade. These are ingredients that provide mutual growth, that provide for a sustainable and clean growth, that provide for order, for peace, for well-being of our peoples and of our nations. And this is the recipe that we want the EU and India, to be able to champion in the present and in the future.
Q: Let me ask you about the importance of European Union’s visit to India. Now, this is the largest ever delegation that has come. The timing is very significant as well. Let me ask you about closer collaboration on start-ups. Yesterday you had the good opportunity to meet start-ups in India. Give us a sense of the kind of collaboration on start-ups that you are planning, envisaging for India and EU.
Zaharieva: I think this is a very important visit. As you said, it’s a historical one, it’s the first time the whole college, almost the whole college is here.
We are working on three main challenges, and I would say it is a big opportunity for India and European Union as well. The first is the plastic litter. India, I think, generates 10 billion tonnes, and we in Europe generate 16 billion tonnes, and recycling and improving the management of this plastic litter will be beneficial for both sides. So, we are focusing on research and innovation, working together and have committed 20-million-euro cost for European researchers and Indian researchers to work together to find solutions.
The second is also challenging, but also a big opportunity for the business, it’s electric battery recycling. The expectation is that by 2030 there will be 200 million batteries to be recycled.
Third is also a big opportunity for India, but also for Europe. The fact that we have committed Europe to reach a neutrality in 2050, India in 2070. We call this project from waste to clean hydrogen. India has a big potential on that.
Q: The US is threatening reciprocal tariffs on everyone. They’ve also said that Europe has been unfair to them. How do you see these reciprocal tariffs coming in and what will be your message to the US?
Zaharieva: I’ve already said, this is not win-win. This will be a lose-lose situation not only for us, but for them as well. So as our Commissioner said, we are ready to negotiate, we are ready to look at the tariffs, but this in short run it will be some sort of win, but in long or even in the medium term it will be a lose-lose situation. So, I hope they will rethink their position.
Watch accompanying video for entire discussion.
