New Delhi: Prime Minister Narendra Modi on Tuesday marked the beginning of a new era in India-European Union relations during the India-EU Business Forum held at the India Pavilion in New Delhi.
Addressing the forum, he highlighted several historic milestones underscoring the deepening ties between the two democratic powers. For the first time, European Union leaders were chief guests at India’s Republic Day celebrations, accompanied by the conclusion of India’s largest-ever Free Trade Agreement (FTA) with the EU. The large-scale participation of CEOs at the business forum further signified unprecedented alignment between India and the EU.
PM Modi emphasised shared values and common priorities on global stability as the foundation for elevating the partnership to one of the world’s most influential. Over the past decade, bilateral trade has doubled to reach 180 billion euros. More than 6,000 European companies operate in India, while around 1,500 Indian companies have a presence in the EU.
“In times of global business volatility, every company is re-evaluating its market strategies and partnerships. This FTA sends a clear and positive message to the business community,” Modi said, expressing confidence that stakeholders will fully leverage the opportunities it presents.
The Prime Minister outlined three key priorities for strengthening collaboration: reducing external dependencies in critical sectors like electric vehicles, batteries, semiconductors, and active pharmaceutical ingredients through joint efforts; expanding partnerships in defence, space, telecom, and artificial intelligence technologies; and advancing a clean, sustainable future with increased joint research and investment in green hydrogen, solar energy, smart grids, small modular reactors, and sustainable mobility.
He also stressed the importance of cooperative solutions in water management, circular economy, and sustainable agriculture, highlighting these as vital areas for India-EU industry collaboration.
These initiatives, PM Modi noted, align with the shared priorities of both India and the EU and offer substantial benefits to their business communities.
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