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India-EU Ties
Prime Minister Narendra Modi on Friday held talks with European Commission President Ursula von der Leyen, focusing on imparting fresh momentum to the India-European Union (EU) strategic partnership. The two sides are expected to take stock of the ongoing negotiations to firm up an ambitious trade deal as well as explore ways to boost trade and investment ties. Von der Leyen, accompanied by the EU College of Commissioners or senior political leaders of the bloc, arrived here on Thursday on a two-day visit. "This world is fraught with danger. But I believe this modern version of great power competition is an opportunity for Europe and India to re-imagine their partnership," she said at a think-tank ahead of her talks with PM Modi. "In many ways, the EU and India are uniquely placed to respond to this challenge together," she said. The two sides are also expected to deliberate on the Russia-Ukraine conflict, the situation in the Indo-Pacific and developments in West Asia. A joint .
India and the EU are eyeing to seal by this year a free trade deal that would be the largest of its kind globally, European Commission president Ursula von der Leyen said on Friday, asserting that the two sides must take the strategic ties to the "next level" to effectively navigate geopolitical challenges. In a keynote address at a think-tank, Von der Leyen announced that the European Union is exploring a future 'Security and Defence Partnership' with India in the mould of the pacts it has with Japan and South Korea. The top European leader explained how the world is fraught with "danger" and that the modern version of great power competition is an opportunity for Europe and India to "reimagine" their partnership. Her comments came amid increasing strain in ties between the European Union and the US over trade and tariff as well as on the Russia-Ukraine conflict. "Over the last 30 years we have done a lot together. But in truth we have only been scratching the surface of the ...
India should push for inclusion of protective provisions in its proposed free trade agreement (FTA) with the European Union to safeguard its interests against the EU's carbon tax, think tank GTRI said on Thursday. The EU has decided to impose Carbon Border Adjustment Mechanism (CBAM), or carbon tax, which will come into effect from January 1, 2026. It would mainly impact seven carbon-intensive sectors, including steel, cement, fertiliser, aluminium and hydrocarbon products. The Global Trade Research Initiative (GTRI) said that if protective language is not included in the agreement, post FTA, EU goods will enter India duty-free, while Indian steel and aluminum could face high carbon charges under CBAM when exported to the EU. "Since CBAM imposes tariffs based on production methods, it violates WTO (World Trade Organisation) rules. India must push for protective language in the FTA to address this issue," GTRI Founder Ajay Srivastava said. The suggestions came at a time when Europea
President of the European Commission Ursula von der Leyen accompanied by the College of Commissioners will visit India next week, during which she is scheduled to hold a bilateral meeting with Prime Minister Narendra Modi, the EU delegation said here on Friday. "The unprecedented visit, one of the first by the College of Commissioners early in the new mandate, highlights the strong momentum in EU-India relations," the Delegation of the European Union to India said in a statement. On February 27 and 28, President von der Leyen will visit New Delhi accompanied by the College of Commissioners, it said. "It follows President von der Leyen's announcement of a new strategic agenda with India to be presented this year at the EU-India Summit. The visit emphasises the importance of strengthening ties in key areas vital to the prosperity and security of both Europe and India," the statement said. During the visit, the College of Commissioners and the Indian government will hold a plenary ...
India is setting up a dedicated platform - EFTA (European Free Trade Association ) desk - to promote trade, investment, and business facilitation between the two regions, an official statement said on Monday. India and the four European nations EFTA bloc signed a free trade agreement on March 10 last year to boost trade and investment ties. The pact, officially dubbed as Trade and Economic Partnership Agreement (TEPA), is expected to come into force by the end of this year. The EFTA members are Iceland, Liechtenstein, Norway, and Switzerland. The setting up of the desk is important as under the pact, India has received an investment commitment of USD 100 billion in 15 years from the grouping while allowing several products such as Swiss watches, chocolates and cut and polished diamonds at lower or zero duties. This is a first-of-its-kind pledge agreed upon in any of the trade deals signed by India so far. It will be inaugurated by Commerce and Industry Minister Piyush Goyal along
The first meeting of the India-EU Trade and Technology Council (TTC) in Brussels marks a significant milestone in the strategic partnership between India and the European Union due to its focus on critical domains, External Affairs Minister S. Jaishankar said on Tuesday. The meeting, co-chaired on the Indian side by the EAM, Commerce and Industry Minister Piyush Goyal and Communications, Electronics and IT Minister Rajeev Chandrasekhar, covered key focus areas of strategic technologies, digital governance and green energy technologies. The EAM highlighted that India has a crucial role to play in all aspects and also with regard to its impact on the global talent pool. This first meeting of the Trade and Technology Council is a significant milestone in the strategic partnership between India and the European Union, Jaishankar said in his address. We are obviously important partners for each other but what the TTC represents is a focus on key domains that are critical to both the glob
Weeks before Sweden takes over the presidency of European Union, Swedish foreign trade minister Johan Forssell on Friday said pushing for an early finalisation of the India-EU free trade agreement will be one of the key priorities of his country's year-long tenure at the 27-nation. He said Sweden will act as an "honest broker" and do its best to conclude the negotiations for the FTA as it will be in "everyone's interest". The minister described India's procurement of crude oil from Russia amid the Ukraine conflict as part of domestic policies, saying every country must make their own decisions. "I have not come here to tell you what to do. The war has affected Europe in many ways, especially in the energy situation. Every country must make their own decisions and I totally agree with Prime Minister [Narendra] Modi saying that this is no time for war," he said while interacting with a group of journalists. "We very much hope for the war to end and hopefully very soon because there a
India and the European Union agreed to establish a Trade and Technology Council early this week. What it is and what both sides will gain from it, watch this report to know more.