NEW DELHI: Setting a year-end deadline for their Free Trade Agreement, expanding cooperation in critical technologies, and boosting the India-Europe corridor, India and the European Union outlined an ambitious roadmap for their partnership following the meeting between Prime Minister Narendra Modi and EU Commission President Ursula von der Leyen, who was accompanied by a high-level delegation on Friday.With Modi highlighting a shared India-EU vision for a free and open Indo-Pacific region both sides also committed to explore a security and defence partnership. “We have prepared a blueprint for collaboration in the areas of trade, technology, investment, innovation, green growth, Security, Skilling and Mobility. We have directed our teams to conclude a mutually beneficial Bilateral Free Trade Agreement by the end of this year,” Modi said in a statement after the meeting.As the meeting took place in the context of geopolitical headwinds unleashed by Donald Trump administration that among others unsettled the US-Europe relationship, Modi spoke about the relevance of India-EU ties at the plenary session. “Geo-economic and political circumstances are rapidly evolving. And old equations are breaking down. In times like these, the partnership between India and the EU becomes even more important,” Modi said.“A shared belief in democratic values, strategic autonomy, and rule-based global order unite India and the EU. Both countries are mega diverse market economies. In a sense, we are natural strategic partners,” he emphasised. “It is time to be pragmatic and ambitious. And to realign our priorities for today’s realities,” von der Leyen said at an address to a think tank in New Delhi before meeting Modi.After the meeting with Modi, Von der Leyen highlighted that the EU and India are seeking to strengthen cooperation in security and stability, exploring the possibility of a future ‘Security and Defence Partnership’ with India, akin to those the EU has with Japan and South Korea.Around 6,000 EU companies operate in India and the EU is India’s largest trading partner in goods. Bilateral trade between the two sides reached $135 billion in 2022-23, nearly doubling over the last decade. But the talks for an FTA have been stuck over the issues of EU is pushing for a tax cut on wines and spirits, a robust intellectual property regime, and major duty reductions on automobiles. Meanwhile, India is advocating data security status for its IT sector and greater access in EU’s service sector.Modi laid down eight broad areas for both sides to deepen their engagement. EU and India must focus on key areas. First, finalise FTA and Investment Protection Agreement. Second, strengthen supply chain resilience in sectors like electronics, semiconductors.Third, continue commitment to the transformative IMEC Corridor. Fourth, advance “tech sovereignty” in areas like AI, quantum computing, and 6G. Fifth, collaborate on climate action and green energy for global growth. Sixth, enhance defence ties through co-development.Seventh, address security challenges like terrorism and cyber threats. Lastly, simplify migration, mobility, and visas to boost people-to-people ties.European delegation travels by hydrogen busThe European Commission delegation on Friday travelled in a hydrogen-run bus to reach Hyderabad House for bilateral talks. The bus powered by green hydrogen was developed in collaboration with Tata Motors and Indian Oil Corporation Limited (IOCL). Both sides highlighted the progress made on green and clean energy technologies, which has been instrumental in advancing shared ambition of achieving net zero emissions. EU aims to reach goal by 2050, while India targets 2070
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