[{"bbox": [86, 149, 1169, 218], "category": "Table", "text": "<table><tr><td>13. Type of financing</td><td>Indirect management with the entity(ies) to be selected in accordance with the criteria set out in section 4.3.1</td></tr></table>"}, {"bbox": [88, 233, 402, 263], "category": "Section-header", "text": "## 1.2 Summary of the Action"}, {"bbox": [95, 279, 1134, 810], "category": "Text", "text": "The strategic partnership between the European Union (EU) and India is multifaceted, covering a broad spectrum of topics including trade, investment, clean energy transition, climate change, sustainable urbanisation, biodiversity, science and technology, digital, connectivity and agriculture. Most of these priorities, including in particular those related to the green transition, fall under the **Global Gateway strategy¹**, being implemented through a Team Europe approach. The resumption of the **EU-India negotiations for a Free Trade Agreement (FTA)**, investment protection and geographical indications agreements in 2022 has added momentum to EU-India trade and investment ties. Furthermore, the EU and India have strengthened their relationship as strategic partners by setting up a **new Trade and Technology Council (TTC)**. During the first ministerial meeting of the TTC in Brussels in May 2023, the TTC prioritised, among others, focus on green technologies and resilient value chains. India's latest trade figures for 2022-23 show that the **EU has become India's number one trading partner**. With a young population of 1.4 billion, increasing urbanisation and a growing middle class, its approach towards energy, consumption and the environment will be a major factor in tackling climate change globally. India is already today the world's third largest emitter of greenhouse gases (GHG) and its energy demand is growing. The Government of India (GoI) is committed to achieve climate neutrality by 2070 and cut emissions by 45% by 2030 (revised Nationally Determined Contributions (NDCs) - August 2022), by further expanding renewable energy and achieving 50% non-fossil fuel energy and further integrating it in the economy (c.f. the new national **Green Hydrogen** Mission of January 2023, and the launch of first **offshore wind** tenders). India is also putting a strong emphasis on developing **sustainable and green finance** (with its first sovereign green bond issued at the end of 2022) and also on reducing its fertilisers' import by expanding sustainable food production, in line with the new **Global Biodiversity Framework** (Montreal, December 2022)."}, {"bbox": [95, 821, 1134, 1009], "category": "Text", "text": "This Action is relevant to the three specific objectives and expected results of the **Regional MIP 2021-2027**, namely Sustainable Modernisation (SO1), the European Green Deal (SO2) and Good Governance/inclusive and participatory decision-making processes (SO3/ER3). It will also contribute to achieving a number of SDGs, in particular SDG 17 (Partnerships), SDG 7 (Energy), SDG 10 (Inequalities), SDG 13 (Climate change) and SDG 15 (Life on Land) as well as SDG 12 (Sustainable consumption and production), SDG 5 (Gender equality) and SDG 16 (Just, peaceful and inclusive societies). Optimising synergies across sectors (and SDGs) will be systematically explored and promoted."}, {"bbox": [95, 1018, 1134, 1180], "category": "Text", "text": "The **Overall Objective** of the proposed Action is to support India's achievement of its NDCs² under the Paris Agreement and facilitate its green, low carbon and resilient transition, including some of India's Mission LIFE³ principles. Focus is on strengthening the EU-India partnership in: i) clean energy and climate, through the Clean Energy and Climate Partnership, with a particular focus on renewable hydrogen and offshore wind energy; ii) sustainable and green finance; and iii) agro-ecology for more sustainable and resilient food systems, and their long-term economic viability."}, {"bbox": [95, 1191, 1134, 1379], "category": "Text", "text": "The Action will be anchored in key Ministries, among others: Objective 1: Ministry of Power, including Bureau of Energy Efficiency and Ministry of New and Renewable Energy; and Ministry of Petroleum and Natural Gas; Objective 2: Ministry of Finance; Objective 3: Ministry of Agriculture, Ministry of Environment, Forests and Climate Change, Rural Development. All these are nodal agencies responsible for policy and regulatory work in the proposed sectors and such cooperation once established is expected to give a strategic push to the EU-India political and economic relations. Dedicated partnerships with **private sector, including think tanks** both in India and the EU will be key to reach lasting impact."}, {"bbox": [95, 1388, 1134, 1444], "category": "Text", "text": "Past and on-going dialogue and cooperation under the EU-India Clean Energy and Climate Partnership⁴ have shown the **importance of consistent support to India** in addressing the present challenges the country is facing"}, {"bbox": [85, 1475, 1020, 1503], "category": "Footnote", "text": "¹ https://www.eeas.europa.eu/delegations/india/global-gateway-and-eu-india-connectivity-partnership_en?_s=167"}, {"bbox": [85, 1523, 1137, 1550], "category": "Footnote", "text": "² https://unfccc.int/sites/default/files/NDC/2022-08/India%20Updated%20First%20Nationally%20Determined%20Contrib.pdf"}, {"bbox": [85, 1549, 367, 1573], "category": "Footnote", "text": "³ http://missionlife-moefcc.nic.in/"}, {"bbox": [85, 1572, 1143, 1622], "category": "Footnote", "text": "⁴ https://energy.ec.europa.eu/topics/international-cooperation/key-partner-countries-and-regions/india_en#eu-india-clean-energy-and-climate-partnership"}, {"bbox": [1037, 1681, 1143, 1706], "category": "Page-footer", "text": "Page 4 of 34"}]