The India and EU likely to seal free trade agreement by December development comes after Prime Minister Narendra Modi and EU leaders Antonio Costa and Ursula von der Leyen pledged to finalize talks soon.
During a joint phone call, the leaders discussed the importance of promoting a rules-based global order and addressing global issues together. Modi reaffirmed India’s consistent support for peace in Ukraine, highlighting the need for stability and cooperation. Von der Leyen noted that India has an important role in ending Russian aggression and creating a path toward peace.
The leaders agreed that the India-EU strategic partnership should foster stability, strengthen economic ties, and encourage innovation and resilience. They also discussed holding the next India-EU summit in New Delhi at an early date of mutual convenience.
Negotiations for the Free Trade Agreement (FTA) resumed in June 2022 after an eight-year pause. Both sides have made significant progress in sectors like trade, technology, investment, sustainability, defense, and supply chain resilience. They also committed to advancing the India-Middle East-Europe Economic Corridor (IMEEC).
The India and EU likely to seal free trade agreement by December signals a major step toward stronger bilateral ties and economic growth.
