 "‘Agree with PM Modi,’ says EU chief on getting India-EU free trade deal done in 2025")
India and the European Union (EU) aim to conclude talks on a free trade agreement (FTA) this year, European Commission President Ursula von der Leyen announced in New Delhi on Friday (28 February), emphasising that they have agreed with Prime Minister Narendra Modi to to accelerate negotiations and conclude the deal in 2025.
Leyen said both sides will accelerate negotiations, which resumed in June 2022, for a free trade agreement.
“An FTA between the EU and India would be the largest deal of its kind anywhere in the world. I am well aware that it will not be easy, but I also know that timing and determination count, and this partnership comes at the right moment for both of us. This is why we have agreed with PM Modi to push to get it done this year, and you can count on my full commitment to ensuring we deliver,” Leyen said.
Leyen added that both sides stand to lose from a world of spheres of influence and isolationism, while they both stand to gain from a world of cooperation and working together.
EU is India’s largest trading partner
The EU is India’s largest trading partner in goods, with bilateral trade reaching $137.5 billion in the 2023-24 fiscal year. This marked a growth of about 90% over the previous decade.
FTA talks between Brussels and New Delhi
India and the EU have held nine rounds of talks since 2022 for the proposed FTA, with the latest round taking place from 23 to 27 September 2024.
The tenth round is set to take place in Brussels in March this year.
EU chief on a two-day visit to India
Leyen is leading a 27-member delegation to New Delhi for a two-day visit.
Impact Shorts
More Shorts“Pleased to participate in the India-EU bilateral cluster meeting this morning alongside Commissioners Jozef Sikela, Dubravka Suica, Marta Koš, Magnus Brunner of the EU Commission, and my colleagues Kirti Vardhan Singh & Nityanand Rai,” External Affairs Minister S. Jaishankar said.
Jaishankar added that their discussions focused on connectivity and IMEC, green and clean energy, mobility and talent, security, the Mediterranean, and EU expansion.
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