Prime Minister Narendra Modi and European Commission President Ursula von der Leyen have agreed to finalize a Free Trade Agreement (FTA) by the end of this year while strengthening technology and defense ties.
Von der Leyen led the European Union College of Commissioners on a landmark visit to India from February 27-28, marking the first such visit outside Europe and a historic moment in India-EU relations.
India-EU Strategic Ties
- The EU is India’s largest trading partner, with €124 billion in trade in 2023, a 90% increase over the last decade.
- Talks for the FTA, first launched 17 years ago, were revived in 2022 after being suspended in 2013.
- Both sides are also working on an Investment Protection Agreement and a Geographical Indications (GIs) pact.
Boosting Defense and Security Cooperation
The EU aims to establish a security and defense pact with India, similar to its partnerships with Japan and South Korea, with a focus on the Indo-Pacific region.
Commitment to a Multipolar Global Order
As two of the world’s largest democracies and open economies, India and the EU reaffirmed their shared commitment to building a resilient, multipolar global order that promotes peace, economic growth, and sustainable development.
Both leaders expressed confidence that this visit will strengthen the India-EU Strategic Partnership and open a new chapter in bilateral relations.
