Representatives from India and the European Union Set to Deliberate on Cooperation Measures for Mutual Economic Benefit at EU-India Leaders Conference at European Parliament in Brussels

Mumbai, 30th June 2023: With the aim of strengthening bilateral relations and trade partnerships between India and the European Union, Europe India Centre for Business and Industry is organising the EU-India Leaders Conference on 5 July 2023, at the European Parliament & AWEX in Brussels, Belgium. The conference will bring together a galaxy of eminent EU Parliament members, business leaders, academics and civil society representatives to discuss trade, investment and diplomacy in the EU-India corridor. The Yarn Bazaar, India’s leading B2B marketplace for yarn, will be a part of the representation for the Indian textile industry, with a firm commitment to solving the critical issues of India’s textile industry and helping the country achieve its textile export target of USD 100 billion by 2030.

The shift in global supply chains, driven by the ‘China Plus One’ sentiment, has created favourable conditions for Indian textile exporters to expand their footprint and enhance their competitiveness on a global scale. The projected growth not only demonstrates the resilience of the Indian textile industry but also reflects the concerted efforts made by manufacturers and policymakers to enhance productivity, quality, and innovation. The implementation of reforms, the adoption of modern technologies, and the emphasis on sustainability have played a pivotal role in boosting India’s textile exports.

This highly anticipated event marks the fourth edition of the EU India Leaders Conference, and is set to be the most significant one yet. Distinguished personalities including Mr. Morten Lokkegaard, Member of European Parliament – Denmark; Dr Vijay Mehta, Member, National Executive, Foreign Affairs Department – UK & EU, BJP; Mr Sujit S Nair, Chairman – Europe India Centre for Business and Industry; Mr Niccolò Rinaldi, Directorate-General for External Policies of the European Union, European Parliament; Mr Dirk Vantghem, Director General – EURATEX; Dr Amit Lath, CEO – Sharda Group of Companies; Bhadresh Dodhia, Chairman, SRTEPC; and Sanjay Jain, Chairman, ICC Textile Committee, Managing Director, TT Limited; Mr Pratik Gadia, Founder & CEO, The Yarn Bazaar will grace the event.

“Closer trade relations between India and the European Union are essential for fostering economic growth and sustainable development in both regions,” said EICBI Chairman, Sujit S Nair. “Our EU India Leaders Conference 2023 aims to create an environment for policymakers, business leaders, and academics to come together and explore new opportunities for collaboration. By bringing together key stakeholders from both regions, we can work towards building a stronger and more prosperous partnership between India and the EU,” he added.

Amit Lath, CEO & Managing Partner, Sharda Group of Industries, also commented on the need for greater engagement and cooperation between India and the EU, “In an era of multipolarity, India is expected to become the world’s most populous nation and a significant geopolitical player. This necessitates European Union member states to shift their policies to engage with one of the world’s largest consumer and industrial markets. Opportunities to enhance EU–India ties are analysed along three courses of action: 1) Protect: keeping out unwanted influence 2) Promote: using innovation and commercialisation 3) Regulate and Shape: using regulatory frameworks.”

“In each of these three areas, joint action with India is possible. Strategic clarity about the objectives and benefits of closer ties will help build a clear narrative that will steer policymakers and other stakeholders in the desired direction, towards implementation. In the current international and geopolitical context, there is ample reason for the two sides to deepen their ties further. The EU and its member states are investing in economic resilience and open strategic autonomy. India is largely building production capabilities through its ‘Make in India’ campaign, which seeks to diversify existing value and supply chains,” he added.

Pratik Gadia,

At the conference, Pratik Gadia, Founder & CEO, The Yarn Bazaar, will be a speaker and moderator of the session, EU India Textile Cooperation and FTA, during which key industry and policy leaders will engage in a constructive and thought-provoking discussion on driving EU-India relations in this area, and ways to develop them further. The focus will be on identifying and analysing the challenges and opportunities in the textile sector, ease of business for companies to tap into these regions, the policy, legislative, and national-level initiatives necessary to bolster and facilitate their endeavours, and the impact of the EU-India FTA on collaboration between textile companies from EU and India.

“India and the EU have traditionally enjoyed extremely cordial and collaborative relations. However, there is still a lot of scope for both entities to undertake more initiatives that will greatly benefit both the economies. Set against the backdrop of the esteemed European Parliament, this conference presents an exceptional occasion for attendees to engage closely with influential decision-makers and subject matter experts and ideate on ways to cooperate for mutual benefit. Beyond knowledge sharing, the event will also provide an ideal platform for networking and exploring potential partnerships among the attendees. The gathering will also help in creating a way forward, which will contribute towards achieving our PM Narendra Modi’s vision for making India a global powerhouse, and realising Union Minister Piyush Goyal’s target to increase textile exports to USD 100 Billion by 2030,” said Pratik Gadia, Founder and CEO of The Yarn Bazaar.

He further expressed his unwavering commitment to revolutionising India’s textile industry and positioning it as a dominant global player. “Our aim is to solve the issues faced by India’s textile industry, which is known for exceptional quality, innovation, and sustainability, and help propel it into a bright and prosperous future. This conference will provide a crucial platform for exploring collaboration between the European Union and India, and unlocking the tremendous potential for trade, investment, and technological advancements. We look forward to exchanging ideas and forging lasting connections that drive mutual growth and market access.”

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