PM Modi, EU Leaders Push For Early FTA, Discuss Ukraine Conflict

(MENAFN- Live Mint) New Delhi: Prime Minister Narendra Modi on Thursday held a joint call with European Council president Antonio Costa and European Commission president Ursula von der Leyen on Thursday, reaffirming plans to conclude the long-pending India–EU free trade agreement (FTA) at the earliest.

The leaders reviewed progress in cooperation across trade, technology, investment, sustainability, defence, security, and supply chain resilience, the Prime Minister's Office said in a statement.

They also discussed advancing connectivity projects, including the India–Middle East–Europe Economic Corridor (IMEEC), and agreed to convene the next India–EU Summit in New Delhi at a mutually convenient date. Modi extended a formal invitation to both leaders.

“The leaders underlined the role of the India-EU Strategic Partnership in jointly addressing global issues, fostering stability, and promoting a rules-based order for mutual prosperity,” the PMO added.

On global developments, the leaders exchanged views on the conflict in Ukraine, with Modi reiterating India's consistent call for a peaceful resolution and early restoration of stability.

“The leaders also exchanged views on regional and global issues of mutual interest, including the efforts to bring an end to the conflict in Ukraine,” the statement added.

Earlier this week, commerce and industry minister Piyush Goyal said that the free trade agreement (FTA) negotiations between India and the European Union have reached an advanced stage, with both parties making significant progress.

The FTA is expected to be concluded by the end of this year.

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According to European Commission data, the EU is India's second-largest trading partner, with bilateral trade in goods touching €120 billion ( ₹12.36 trillion) in calendar year 2024, comprising about 11.5% of India's total trade.

India, in turn, ranks as the EU's ninth-largest partner, accounting for 2.4% of its total goods trade, far behind the US (17.3%), China (14.6%), and the UK (10.1%).

Notably, India–EU trade in goods has surged nearly 90% over the past decade, underscoring the deepening economic ties between the two sides, it added.

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