The Impact of the ‘Green’ Initiatives Undertaken by The European Union on Its Trade Relations with India

Abstract

The EU Green Deal, launched in 2019 by the European Commission, acts as a roadmap for socioecological evolution, and is identified as an important link in strengthening global relations. The Green Deal would not only promote sustainable development in the EU by cutting down carbon emissions in the future and providing the basic structure for a greener economic strategy, but would also help in promoting ties with India, in such spheres which have not been explored yet, like bilateral trade in cleaner technology, investments in sunrise industries, knowledge sharing, cooperation with relation to sustainable development and even cleaner finance.

Accordingly, the paper delves into the analysis of the deal launched by the Commission for the promotion of trade and sustainable development, along with analysing the trade relations between India and the EU with reference to the Green Agenda. Further, the paper seeks to study the future potential areas for cooperation in pursuance of implementing the deal, with special emphasis on the Corporate Sustainability Reporting Directive to be adopted later this year, and puts forth a varied set of recommendations and suggestions for the same.