LISBON: India-EU Leader’s Meeting

LISBON: At the invitation of the
President of the European Council Mr. Charles Michel, Prime Minister Shri
Narendra Modi participated in the India-EU Leaders’ Meeting today. The meeting
was held in a hybrid format with the participation of leaders of all the 27 EU
Member States as well as the President of the European Council and the European
Commission. This is the first time that the EU hosted a meeting with India in
the EU+27 format. The meeting was the initiative of the Portuguese Presidency
of the Council of the European Union.

During the meeting, the leaders expressed their desire to further strengthen
the India-EU Strategic Partnership based on a shared commitment to democracy,
fundamental freedoms, rule of law and multilateralism. They exchanged views on
three key thematic areas: i) foreign policy and security; ii) COVID-19, climate
and environment; and iii) trade, connectivity and technology. They discussed
forging closer cooperation on combating the COVID-19 pandemic and economic
recovery, tackling climate change, and reforming multilateral institutions.
India appreciated the prompt assistance provided by the EU and its member
states to combat its second COVID wave.

The leaders welcomed the decision to resume negotiations for balanced and
comprehensive free trade and investment agreements. Negotiations on both the
Trade and Investment Agreements will be pursued on parallel tracks with an
intention to achieve early conclusion of both agreements together. This is a
major outcome which will enable the two sides to realise the full potential of
the economic partnership. India and the EU also announced dedicated dialogues
on WTO issues, regulatory cooperation, market access issues and supply chain
resilience, demonstrating the desire to deepen and further diversify economic
engagement.

India and the EU launched an ambitious and comprehensive ‘Connectivity
Partnership’ which is focused on enhancing digital, energy, transport and
people-to-people connectivity. The Partnership is based on the shared
principles of social, economic, fiscal, climate and environmental
sustainability, and respect for international law and commitments. The
Partnership will catalyse private and public financing for connectivity
projects. It will also foster new synergies for supporting connectivity
initiatives in third countries, including in the Indo-Pacific.

India and the EU leaders reiterated their commitment to achieving the goals of
the Paris Agreement and agreed to strengthen joint efforts for mitigation,
adaptation and resilience to the impacts of climate change, as well as
providing means of implementation including finance in the context of COP26.
India welcomed the EU’s decision to join CDRI. India and the EU also agreed to
enhance bilateral cooperation on digital and emerging technologies such as 5G,
AI, Quantum and High-Performance Computing including through the early
operationalization of the Joint Task Force on AI and the Digital Investment
Forum.

The leaders noted with satisfaction the growing convergences on regional and
global issues, including counterterrorism, cybersecurity and maritime
cooperation. The leaders acknowledged the importance of a free, open, inclusive
and rules-based Indo-Pacific and agreed to closely engage in the region,
including in the context of India’s Indo-Pacific Ocean’s Initiative and the
EU’s new strategy on the Indo-Pacific.

Coinciding with the Leaders’ Meeting, an India-EU Business Roundtable was
organised to highlight the avenues for cooperation in climate, digital and
healthcare. A finance contract of Euro 150 million for the Pune Metro Rail
Project was signed by the Ministry of Finance, Government of India, and
European Investment Bank.India-EU Leaders Meeting has set a significant
milestone by providing a new direction to the Strategic Partnership and giving
a fresh impetus for implementing the ambitious India-EU Roadmap 2025 adopted at
the 15th India-EU Summit held in July 2020.