‘India-EU FTA by year-end’: PM Modi after talks with Faculty of Commissioners

Prime Minister Narendra Modi on Friday introduced that the India-EU Free Commerce Settlement might be reached by the tip of 2025.

“We now have had honest and significant discussions, yesterday on numerous points. We now have requested our groups to work on a mutually profit Free Commerce Settlement and to understand it by the tip of this yr,” PM Modi stated in a joint assertion with European Union Chief Ursula von der Leyen.

#WATCH | Delhi | Through the joint press assertion with the President of the European Fee, Ursula von der Leyen, PM Modi says, “…This is without doubt one of the early visits of the (European) Fee’s new tenure. Over twenty years of strategic partnership between India and the EU… pic.twitter.com/lsaUc5Jpf8

— ANI (@ANI) February 28, 2025

Ursula von der Leyen is on a two-day go to to India and is accompanied by prime leaders of the EU member nations. Earlier in the present day, the European Fee President stated the EU and India have agreed to push to get a long-pending free commerce settlement accomplished this yr and that the 2 sides will strengthen their partnership within the areas of commerce, expertise, connectivity and defence.

The EU is India’s largest buying and selling accomplice, forward of the US and China. Within the 2023-24 fiscal yr, exports and imports to the European bloc accounted for greater than $130 billion, marking a rise of about 90 per cent over the previous decade. Over 6,000 European corporations are additionally current in India.

PM Modi added that the 2 sides have mentioned cooperating within the discipline of expertise that can cowl areas like semiconductors, AI, high-performance computing, and 6G. “We now have additionally determined to start out an area dialogue. The steadiness of ecology and economic system has been our shared dedication, and on this course, we now have a robust cooperation. We now have determined to have a Inexperienced Hydrogen Discussion board and Offshore Wind Vitality Enterprise Summit,” he stated.

#WATCH | Delhi: In a joint assertion with President of the European Fee Ursula von der Leyen, PM Narendra Modi says, “We now have mentioned going forward on funding safety and GI settlement to strengthen the funding framework. Within the discipline of expertise and innovation,… pic.twitter.com/rPYYHGoaMY

— ANI (@ANI) February 28, 2025

India and the EU relaunched talks on a long-pending free commerce settlement in 2021, however points like market entry for merchandise resembling automobiles and alcoholic drinks have been sticking factors. The following spherical of negotiations is about to happen in March.

Brussels is ramping up efforts to finalise the free commerce settlement with New Delhi within the face of potential US tariffs. US President Donald Trump has stated he’s planning to hit items made within the EU with tariffs of 25 per cent.

The EU chief confirmed the plans to achieve the FTA by the tip of this yr, saying, “We now have to conform to work on a brand new strategic agenda, and I see three fundamental avenues. First, we’ll work collectively on financial progress. The potential is immense. Europe is already India’s largest buying and selling accomplice. Now, we now have tasked our groups to construct on this momentum and finalize our Free Commerce Settlement earlier than the tip of the yr. We’re anticipating plenty of our commerce negotiations.”

With inputs from businesses