New Delhi: Ahead of the talks between Prime Minister Narendra Modi and President of the European Commission, Ursula von der Leyen, on Friday, MEA officials have said that the focus will be on “deepening collaboration in technology and green energy." Terming the visit “important”, the officials said that India has a “long standing partnership with the European Union” with ties focused on trade and investment.

Advertisment

India is the largest trading partner in goods of the European Union, with FY2023-24 bilateral trade standing at $135 billion. The bilateral trade in services stood at $53 billion in 2023. 

European investment in India is valued at over $117 billion with 6,000 European companies present in India. Indian investment in the EU is valued at about $40 billion.

Also read: Indian student in critical condition after being hit by vehicle in US; family seeks urgent visa

Advertisment

Asked about the ongoing Free Trade Agreement or FTA talks, the officials pointed to the “need to arrive at a mutually beneficial FTA”. Talks for a FTA began in 2007 but stalled in 2013 due to differences over issues like market access, tariffs, and regulatory standards. They were relaunched in June 2022. While no specific announcement is expected on FTA, a political push is expected as leaders and the trade ministers from the two sides meet.

One of the key elements in the ties has been the EU-India Trade and Technology Council (TTC), with a focus on digital, green tech, and trade and investment. The first ministerial meeting took place on May 16, 2023, in Brussels, co-chaired by EU leaders like Margrethe Vestager and Valdis Dombrovskis, alongside Indian ministers S. Jaishankar, Piyush Goyal, and Rajeev Chandrasekhar. It laid out a roadmap for collaboration while emphasising on innovation and resilience. The next meeting will take place on Friday (Feb 28).

Also read: 'Pakistan a failed state that survives on handouts and thrives on instability': India At UN

Advertisment

Indian students and professionals can be another key pillar of the relationship. India, EU common agenda on migration and mobility (CAMM) provides a framework for cooperation on joint objectives on this particular issue. Indians have been one of the largest recipients of the EU blue card work permit scheme that is designed to attract highly skilled non-EU professionals to live and work in the bloc. 

Introduced in 2009 under Council Directive 2009/50/EC, it’s akin to the U.S. Green Card but focuses specifically on skilled labour.

Other areas of cooperation between India and the EU include space, defence, and non-renewables. Brussels is in talks with Delhi for the deployment of an EU liaison officer at India’s Information Fusion Centre–Indian Ocean Region (IFC-IOR) in Gurugram to enhance maritime intelligence sharing. A MEA official pointed out, “EU has shown interest in the Indo Pacific.” 

The EU’s formal Indo-Pacific Strategy was unveiled on September 16, 2021, marking a pivot toward a region critical to global trade, security, and climate goals.