PM Modi, EU leaders discuss strengthening of economic ties
Evian, June 17
Prime Minister Narendra Modi held a meeting with the European Council President Antonio Costa and European Commission President Ursula von der Leyen on the sidelines of the G7 Summit in France's Evian on Wednesday, discussing ways to strengthen economic ties.
The leaders recalled the 16th India-EU Summit held in India earlier this year and welcomed the strong progress made in bilateral relations.
External Affairs Minister (EAM) S Jaishankar, Foreign Secretary Vikram Misri, National Security Advisor (NSA) Ajit Doval and other officials were also present during the meeting.
Describing his meeting with Costa and Leyen as "wonderful", PM Modi stated that they discussed strengthening of economic linkages. He noted that the growing cooperation between India and the EU can play an important role in strengthening peace, stability and prosperity in the current global environment.
"It was wonderful meeting European Council President Antonio Costa and European Commission President Ursula von der Leyen in Evian earlier today. At the start of this year, India was proud to host them for our Republic Day celebrations. This has been a great time for India-EU ties as we have concluded the Free Trade Agreement. During our talks, we discussed how to further deepen economic linkages in the times to come. Our growing cooperation can play an important role in strengthening peace, stability and prosperity in today's global environment," PM Modi posted on X.
Costa stated that India and the EU will sign the Free Trade Agreement (FTA) by the end of the year. He also mentioned that both sides will work together to better connectivity by advancing India Middle East Europe Corridor (IMEC).
"Dear Narendra Modi, it is a pleasure to meet again so soon. Since we have concluded the mother of all trade deals, we have been moving fast to deliver on our commitments. We will sign the Free Trade Agreement by the end of the year and accelerate work on an investment agreement. We will also step up security and defence cooperation. And join forces for better connectivity by advancing IMEC, the India-Middle East-Europe Corridor," Costa posted on X.
During the meeting, the three leaders also discussed regional and global issues of mutual interest.
According to the Ministry of External Affairs (MEA), the leaders recalled the historic 16th India-EU Summit held in India early this year and welcomed the strong progress made in bilateral relations, especially with the conclusion of India-EU FTA.
The G7 Summit is currently taking place under France's Presidency in Evian. This year marks India's 13th participation in the G7 and PM Modi's seventh consecutive attendance at the summit.
Earlier this year, India's trade negotiations with the EU culminated in a landmark Free Trade Agreement (FTA). The negotiations for the India-EU FTA wrapped up during the 16th India-EU Summit in New Delhi on January 27. PM Modi, Ursula von der Leyen and others hailed it as a historic milestone and "mother of all deals". Costa and Ursula von der Leyen were also the Chief Guests at India's 77th Republic Day celebrations this year.
— IANS
Reader Comments
This is a win-win for both sides. But I hope the FTA includes strong provisions for labor rights and environmental standards. India has made progress, but there's still work to be done on these fronts.
"Mother of all deals" indeed! 🤝 The timing is perfect as we diversify away from over-reliance on any single trade partner. EU is a reliable economic partner. Kudos to PM Modi and EAM Jaishankar for their persistent diplomacy.
Great news! But we must ensure that small and medium enterprises (SMEs) back home actually benefit from this agreement. Often, big corporates reap most rewards from FTAs. Need proper support systems for local businesses to compete.
The IMEC corridor is fascinating! Imagine goods moving from India through the Middle East to Europe faster and cheaper. This could transform trade routes. Also, security cooperation with EU is crucial given global tensions. Well done, team! 👏
Impressive diplomatic outreach by India. 13th G7 participation shows India's growing global stature. The FTA signing by year-end is ambitious but achievable. Hope this translates into tangible benefits for everyday citizens on both continents.
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.