&w=696&resize=696,0&ssl=1 "PM Modi after talks with College of Commissioners–")
Earlier today, the European Commission President stated the EU and India have actually consented to press to obtain a long-pending open market arrangement done this year which both sides will certainly reinforce their collaboration in the locations of profession, modern technology, connection and support
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Prime Minister Narendra Modi on Friday revealed that the India- EU Free Trade Agreement will certainly be gotten to by the end of 2025.
“We have had sincere and meaningful discussions, yesterday on various issues. We have asked our teams to work on a mutually benefit Free Trade Agreement and to realise it by the end of this year,” PM Modi stated in a joint declaration with European Union Chief Ursula von der Leyen.
#WATCH|Delhi|During the joint press declaration with the President of the European Commission, Ursula von der Leyen, PM Modi states, “…This is one of the early visits of the (European) Commission’s new tenure. Over two decades of strategic partnership between India and the EU… pic.twitter.com/lsaUc5Jpf8
— ANI (@ANI) February 28, 2025
Ursula von der Leyen is on a two-day visit to India and is accompanied by top leaders of the EU member nations. Earlier today, the European Commission President said the EU and India have agreed to push to get a long-pending free trade agreement done this year and that the two sides will strengthen their partnership in the areas of trade, technology, connectivity and defence.
The EU is India’s largest trading partner, ahead of the US and China. In the 2023-24 fiscal year, exports and imports to the European bloc accounted for more than $130 billion, marking an increase of about 90 per cent over the past decade. Over 6,000 European companies are also present in India.
PM Modi added that the two sides have discussed cooperating in the field of technology that will cover areas like semiconductors, AI, high-performance computing, and 6G. “We have also decided to start a space dialogue. The balance of ecology and economy has been our shared commitment, and in this direction, we have a strong cooperation. We have decided to have a Green Hydrogen Forum and Offshore Wind Energy Business Summit,” he said.
< a href=" https://twitter.com/hashtag/WATCH?src=hash&ref_src=twsrc%5Etfw">#WATCH | Delhi: In a joint statement with President of the European Commission Ursula von der Leyen, PM Narendra Modi says, “We have actually talked about going on on financial investment defense and GI arrangement to reinforce the financial investment structure. In the area of modern technology and advancement, … pic.twitter.com/rPYYHGoaMY
— RECTUM (@ANI) February 28, 2025
India and the EU relaunched talks on a long-pending open market arrangement in 2021, however problems like market accessibility for items such as vehicles and alcohols have actually been sticking factors. The following round of arrangements is readied to occur in March.
Brussels is increase initiatives to settle the open market arrangement with New Delhi when faced with prospective United States tolls. United States President Donald Trump has actually stated he is intending to strike products made in the EU with tolls of 25 percent.
The EU principal validated the strategies to get to the FTA by the end of this year, claiming, “We have to agree to work on a new strategic agenda, and I see three main avenues. First, we will work together on economic growth. The potential is immense. Europe is already India’s biggest trading partner. Now, we have tasked our teams to build on this momentum and finalize our Free Trade Agreement before the end of the year. We’re expecting a lot of our trade negotiations.”
With inputs from companies
