European Commission President Ursula von der Leyen on Tuesday said the European Union (EU) is committed to finalising its Free Trade Agreement (FTA) with India by the end of the year.
“Europe is already India’s biggest trading partner, and we are committed to finalising our Free Trade Agreement by the end of the year. Europe is open for business. And we are ready to invest in our shared future with India,” the European Commission President said.
“Now is the time to focus on reliable partners and double down on partnerships rooted in shared interests and guided by common values. With our new EU-India strategy, we are elevating our relationship to the next level, advancing trade, investment, and talent mobility; strengthening our joint economic security; driving the clean transition and fostering innovation together; and deepening our industrial cooperation in defence,” the European Commission President said.
Today, the EU is proposing a new strategic agenda to raise bilateral relations with India to a higher level, a statement by the European Commission said.
The European Commission and the High Representative adopted a Joint Communication outlining a ‘New Strategic EU-India Agenda’, marking a significant milestone in EU-India relations.
This initiative, announced by President von der Leyen in her Political Guidelines for 2024-2029, aims to deepen, broaden, and better coordinate bilateral cooperation, enhance prosperity and security for both partners, and help tackle major global challenges.
Following the College’s visit to India in February, the Joint Communication outlines the EU’s strategic vision for enhancing cooperation with New Delhi. It identifies five areas of shared interest and complementary strengths, building on existing ties while addressing areas that present potential for increased engagement.
Amid shifting geopolitical realities, closer EU–India relations are increasingly vital for strengthening economic growth and security, and diversifying supply chains in response to today’s uncertain global order.
Beyond the bilateral dimension, the new strategic agenda highlights EU-India joint engagement on global issues and with third partners, reflecting India’s growing global influence, the statement further said.
Earlier, on September 13, Commerce and Industry Minister Piyush Goyal said India remains committed to working towards a balanced and mutually beneficial
FTA with the EU soon.
India is looking forward to the continued dialogue, Goyal said after meeting Maros Sefcovic, Commissioner for Trade and Economic Security, Interinstitutional Relations and Transparency, European Union.
“It was a pleasure hosting you for the 13th Round of India-EU FTA negotiations. We remain committed to working towards a balanced and mutually beneficial FTA soon, to unlock massive opportunities on both sides. Thank you for your visit. Looking forward to our continued dialogue,” Goyal said in a post on X.
On September 4, Prime Minister Narendra Modi held a telephonic conversation with European Council President Antonio Costa and European Commission President Ursula von der Leyen, reaffirming the shared commitment to an early conclusion of the India-EU FTA negotiations and implementation of the India-Middle East-Europe Economic (IMEEC) Corridor.