PM Modi, European Commission Chief Von der Leyen hold talks

Prime Minister Narendra Modi held talks with European Commission President Ursula von der Leyen on Friday. The focus was on giving new impetus to the India-European Union (EU) strategic partnership. It is likely that both sides discussed ways to strengthen an ambitious trade agreement.

Let us tell you that Leyen arrived in India on Thursday on a two-day visit to India with the 'EU College of Commissioners' i.e. senior political leaders of the group's 27 member countries.

PM Modi meets with EU chief

While addressing the think tank, von der Leyen said that "the free trade agreement between the EU and India will be the largest deal of this kind anywhere in the world. I am well aware that it will not be easy.

But I also know that timing and determination matter, and this partnership has come at the right time for both of us. That is why we have agreed with Prime Minister Modi to push for its completion during this year."

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In a post on social media X, External Affairs Minister Jaishankar said, "Delighted to participate in the India-EU bilateral cluster meeting this morning with Commissioners @JozefSikela, @dubravkasuica, @MartaKosEU, @magnusbrunner and my colleagues @KVSinghMPGonda and @nityanandraibjp." He added, "Our talks focused on connectivity and IMEC, green and clean energy, mobility and talent, security, the Mediterranean and EU enlargement."

Free trade agreement between the EU and India will be the largest deal of this kind anywhere in the world.

India's bilateral trade in goods with the EU was US$135 billion in FY 2023-24. During this period, US$76 billion was exported to the EU and US$59 billion was imported from the EU. With this, the EU became India's largest partner in the trade of goods. Bilateral trade in services was US$53 billion in 2003, including Indian exports of US$30 billion and imports of US$23 billion.

Summary

The value of EU investments in India is over US$117 billion and about 6,000 European companies are present in India. India has been a strategic partner of the EU since 2004 and the 60th anniversary of relations will be celebrated in 2022.

Cooperation between the EU and India from 2020 to 2025 is driven by the EU-India Strategic Partnership Roadmap, the EU Strategy for Cooperation in the Indo-Pacific and the Global Gateway Strategy.