Spotlight on startups: India,EU seek deeper ties

New Delhi: Indian Finance Minister Nirmala Sitharaman and European Union Economic and Financial Affairs Commissioner Valdis Dombrovskis met in Asheville to discuss strengthening ties between their nations. The meeting, which took place during the G20 Finance Ministers and Central Bank Governors gathering, focused on several key areas.

Both sides aimed to deepen cooperation in critical minerals, processing and value addition, fintech, artificial intelligence, and related technologies. They also reviewed progress on the India-EU Economic and Financial Partnership, including the macroeconomic dialogue and the Trade and Technology Council.

The two countries exchanged views on enhancing resilient and diversified supply chains, with a particular emphasis on critical raw materials and technologies. They also explored greater collaboration opportunities in fintech, AI, and generative AI, with a focus on fostering stronger connections between Indian and European startups.

While in Asheville, Sitharaman also met with Russian Finance Minister Anton Siluanov to discuss bilateral cooperation, regional and global economic developments, and issues of mutual interest in the multilateral sphere. These discussions included cooperation in the New Development Bank, the Asian Infrastructure Investment Bank, and the proposed Shanghai Cooperation Organisation Development Bank.