February 28th 2025.
In a meeting held on Friday, Indian Prime Minister Narendra Modi and European Commission President Ursula von der Leyen reached an agreement to finalize a comprehensive free trade deal between India and the EU by the end of this year. This decision was made in light of concerns that the Trump administration's proposed tariffs could have a negative impact on the global economy.
During the talks, the two leaders also discussed strengthening defense cooperation, particularly in the Indo-Pacific region. Von der Leyen announced that the EU is looking to establish a security and defense pact with India, similar to their partnerships with Japan and South Korea.
The negotiations for this trade deal, which would be the largest of its kind globally, began over 17 years ago. After a gap in ambition caused the negotiations to be suspended in 2013, they were relaunched in June 2022. Prime Minister Modi stated, "Today, we have decided to create a bold and ambitious roadmap for the India-EU partnership for the period beyond 2025. It will be launched during the next India-EU summit." This summit is set to take place later this year.
Despite some challenges in the negotiations, both sides are determined to move forward and finalize the deal by the end of this year. Modi expressed that they have prepared a blueprint for collaboration in various areas such as trade, technology, investment, innovation, green growth, security, skilling, and mobility. He also mentioned the importance of concluding an investment protection pact and geographic indications as part of broader efforts to boost investments.
Echoing Modi's sentiments, von der Leyen stated that they have instructed their teams to build on this momentum and finalize the free trade agreement by the end of this year. She added, "We are expecting a lot from our trade negotiators, we told them they should surprise us."
The prime minister also highlighted the growth of India-EU cooperation in defense and security, stating that it is a symbol of mutual trust. He expressed the desire to further engage in areas such as cyber security, maritime security, and counter-terrorism. Both leaders agreed on the importance of peace, security, stability, and prosperity in the Indo-Pacific region. Modi welcomed the EU's decision to join the India-backed 'Indo Pacific Oceans Initiative' and stated that they will work together on triangular development projects for sustainable and inclusive development in the Indo-Pacific region and Africa.
Von der Leyen emphasized the need to strengthen India-EU security and defense cooperation on land, sea, and in space. She also acknowledged the Indian Ocean as a lifeline for global trade and stressed the importance of ensuring its security, not just for India but for the entire world. This statement comes in light of China's increasing presence in the region. She suggested exploring opportunities to expand joint naval exercises, building on their successful operations in the Gulf of Guinea and the Red Sea. She also proposed deepening cooperation in protecting the cables that ensure data connectivity between India and the European Union.
In conclusion, Modi stated that the India-EU strategic partnership is natural and organic, based on trust and shared belief in democratic values. He welcomed the EU's new visa cascade regime, which will provide better mobility for India's talented youth. The prime minister also mentioned concrete steps that will be taken to advance the India-Middle East-Europe Economic Corridor and expressed his belief that it will drive global commerce, sustainable growth, and prosperity in the future. He also mentioned the joint research that will be undertaken on topics such as EV batteries, marine plastics, and green hydrogen.
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