India-EU Summit Forges "Mother of All Deals," Aims for Stronger Multipolar World

In a post on X ahead of the summit, Costa thanked Prime Minister Narendra Modi for the warm welcome and called for a "fruitful summit".

"Thank you for your warm welcome, dear Prime Minister Narendra Modi. Looking forward to a fruitful Summit and a stronger partnership between the European Union and India, based on shared values and heightened ambition," Costa wrote in his post.

"Today is about: delivering tangible benefits for our citizens, working together towards our shared prosperity and security and showing leadership on global issues to shape a resilient multipolar global order," he added.

The remarks come ahead of discussions on trade, security, technology, climate cooperation, and global strategic issues, reflecting the growing ambitions of the India-EU strategic partnership.

Earlier today, Union Minister Piyush Goyal hailed the India-European Union Free Trade Agreement (FTA), describing it as a "formidable partnership" for both sides.

In a post on X, Goyal noted the significance of the trade deal, which aims to strengthen economic ties between India and the EU, enhance trade and investment flows, and foster collaboration across multiple sectors.

"A formidable partnership for the world!" he wrote, sharing a clip of Prime Minister Narendra Modi meeting President of the European Council Antonio Luis Santos da Costa and President of the European Commission Ursula von der Leyen, as the leaders display bonhomie at Hyderabad House in the national capital.

The European leaders are on a state visit to the country, which coincided with the 16th India-EU Summit in New Delhi, co-chaired by PM Modi.

Following their meeting with PM Modi, the President of the European Commission took to X, noting that, "Europe and India are making history today."

In a post on X, she stated that both sides concluded the deal, which has been described as the "Mother of All Deals," noting that this was just the "beginning".

"We have concluded the mother of all deals. We have created a free trade zone of two billion people, with both sides set to benefit. This is only the beginning. We will grow our strategic relationship to be even stronger," von der Leyen wrote in her post.

The free trade agreement between India and the EU, first initiated in 2007, is expected to anchor a broader economic and strategic partnership as global trade dynamics shift.

On Monday, the negotiations for the 'Mother of all deals', as it has been called, concluded successfully and will be announced today during the India-EU summit.

At the summit, leaders are expected to adopt a joint EU-India comprehensive strategic agenda that aims to increase strategic cooperation across four areas, reinforced by enablers across the following pillars: prosperity and sustainability, technology and innovation, security and defence, and connectivity and global issues.

Leaders will also discuss trade in the context of the now-concluded free-trade agreement that started in 2007 (and was relaunched in 2022). This agreement would boost bilateral trade and investment ties and drive shared prosperity.

- ANI