India-EU Leaders’ Meeting

  • Indian Prime Minister participated in the India-European Union (EU) Leaders’ Meeting.
  • 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 EU.
FREE TRADE NEGOTIATIONS
  • India and EU decided to relaunch free trade negotiations by resuming talks that were suspended for the Bilateral Trade and Investment Agreement (BTIA).
  • India and EU had launched talks for having a wide-ranging Free Trade Agreement (FTA), officially called broad-based BTIA, long ago in 2007.
  • The BTIA was proposed to encompass trade in goods, services and investments.
  • However, the talks stalled in 2013 over differences on market access and movement of professionals.
CONNECTIVITY PARTNERSHIP
  • Launched an ambitious and comprehensive ‘Connectivity Partnership’ which is focused on enhancing digital, energy, transport and people-to-people connectivity.
  • It is based on the shared principles of social, economic, fiscal, climate and environmental sustainability, and respect for international law and commitments.
  • It 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.
  • Also signed the contract for the second tranche of USD 150 million from the EU for the Pune Metro rail project.

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