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India and EU to conclude FTA by 2025

New Delhi, Feb 28 (Prensa Latina) India and the European Union (EU) are arranging details to conclude a mutually beneficial bilateral free trade agreement (FTA) this year, Prime Minister Narendra Modi informed on Friday.

In a joint press briefing with European Commission (EC) President Ursula von der Leyen, who is concluding a visit to India this Friday, the head of the Indian Government assured that a cooperation plan has been prepared in trade, technology, investment, innovation, green growth, security, training, and mobility.

Modi noted that the delegation-level meetings addressed the need to move forward on an Investment protection agreement and an agreement on Geographical Indications (GIs).

The Indian prime minister added that the two sides also agreed to enhance cooperation in semiconductors, Artificial Intelligence (AI), high-performance computing, and 6G, and initiate a dialogue for cooperation in space.

He emphasized that we have also decided to hold a Green Hydrogen Forum and an Offshore Wind Energy Business Summit to conduct joint research on batteries for electric vehicles, and boost our Joint Plan for Sustainable Urban Development.”

Modi noted that concrete steps will also be taken to promote the India-Middle East-Europe Economic Corridor, which “will prove to be an engine to drive global trade, sustainable growth, and prosperity.”

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