Digital transformation and reskilling talent important in India-EU trade relations: Piyush Goyal

Union Minister for Commerce and Industry Piyush Goyal has highlighted the importance of digital transformation and talent reskilling in bolstering the trade and technology partnership between India and the European Union (EU).

Goyal made the observation during the stakeholder event for Working Groups 1 and 2, which was held as part of the first ministerial meeting of the India-EU Trade and Technology Council (TTC) in Brussels, Belgium on May 16, 2023.

He co-chaired the event along with External Affairs Minister S Jaishankar, Minister of External Affairs (EAM), and Union Minister of State for Electronics and Information Technology (MEITY) Rajeev Chandrashekar on the Indian side. Executive Vice President of the European Commission Margrethe Vestager and European Commissioner Theirry Breton served as the EU's representatives.

Speaking at the event, Goyal emphasized the significance of new digital technologies and their transformations in terms of upskilling and reskilling current talent. He explained that the reciprocal recognition of degrees and courses will allow both parties to jointly enhance their skills.

He also recommended that working groups meet on a regular basis and define distinct tracks for skilling and talent, the semiconductor ecosystem, etc. to progress towards clear and measurable outputs in order to have a better understanding based on mutual sensitivities.

The Stakeholders Event, attended by 18 stakeholders from various business sectors in India and the EU, provided a platform for fruitful discussions and the exchange of views and suggestions. Five stakeholders from the Indian side represented the digital and technology industry (Working Group 1), whereas three stakeholders represented clean and green energy technologies (Working Group 2).

The conversations centered on a number of important topics, including digital technology, innovations, and disruptions. The delegates also discussed issues including standardization for cross-border merchant payments, enabling legislation, and strategies to boost digital commerce and investment between India and the EU.

They also discussed talent improvement and reskilling, as well as the necessity for digital transformation to scale. The program also included interactions on the generation of green hydrogen, battery systems, recycling, scaling up charging systems for improved access, waste and water management, and certifications allowing new ideas and technology.