India and the European Union on Wednesday stressed the need to accelerate the signing and implementation of a free trade agreement as Prime Minister Narendra Modi and the EU high command discussed ways to enhance cooperation in key areas such as defense and security and in shaping a resilient multipolar global order.
Modi met with European Council President Antonio Costa and European Commission President Ursula von der Leyen on the sidelines of the G7 summit in the French resort of Evian, less than five months after the two sides concluded negotiations on the free trade agreement and finalized a comprehensive strategic agenda during the visit of European Union leaders to New Delhi.
“This has been a great time for India-EU relations as we have concluded the free trade agreement,” Modi said on social media, referring to EU leaders participating in Republic Day celebrations this year.
“During our talks, we discussed how to deepen economic ties in the future. Our growing cooperation can play an important role in promoting peace, stability and prosperity in today’s global environment,” he said.
Costa and von der Leyen said in identical social media posts that India and the EU were “moving quickly to deliver on our commitments” after concluding “the mother of all trade deals”. They added that the two sides will sign a free trade agreement by the end of the year, accelerate work on an investment agreement, enhance security and defense cooperation, and unify efforts on connectivity by developing the India-Middle East-Europe Economic Corridor (IMEC).
Modi said that the two sides discussed ways to deepen economic ties. “Our growing cooperation can play an important role in promoting peace, stability and prosperity in the current global environment,” he said.
The Ministry of Foreign Affairs said in a statement that the leaders described the conclusion of negotiations on the free trade zone as a “historic achievement” and stressed its rapid signing and implementation in order to open trade and investment opportunities and contribute to diversifying supply chains amid geopolitical turmoil.
The leaders also discussed progress in implementing the India-EU Comprehensive Strategic Agenda finalized in January, and regional and global issues. The statement said that the two sides welcomed developments in West Asia and affirmed their shared commitment to “shaping a flexible, multipolar global order” that contributes to peace, stability and sustainable development.
Modi also held a bilateral meeting with German Chancellor Friedrich Merz on the sidelines of the G7 summit to review bilateral relations and enhance cooperation in the fields of trade, investment, defence, security, technology, sustainable development, education and mobility. The leaders welcomed the signing of the Defense Industrial Cooperation Roadmap and the activation of transit visa exemption for Indian citizens.
The leaders also discussed the Russia-Ukraine conflict and welcomed the understanding reached to end the conflict in West Asia. Merz invited Modi to visit Germany for intergovernmental consultations later this year.
Modi described his talks with Merz as fruitful and said on social media: “We discussed ways to enhance bilateral cooperation by working together on trade, investments, circular economy, defence, IT and more.”
