EU unveils a fresh plan to bolster wealth and safety alongside India
The European Union and India have announced a new strategic agenda aimed at deepening, broadening, and better coordinating bilateral cooperation between the two regions. The joint initiative, outlined in a Joint Communication by the European Commission and the High Representative, seeks to enhance prosperity and security for both the EU and India.
At the heart of the new strategic agenda is a commitment to advance trade, investment, and talent mobility. President Ursula von der Leyen stated that the EU-India strategy aims to strengthen joint economic security and deepen industrial cooperation in defense. Furthermore, the EU is committed to finalising the Free Trade Agreement with India by the end of the year, with both sides aiming to finalize the agreement before December.
The conclusion of the EU-India free trade agreement is expected to occur by the end of 2025. Europe is already India's biggest trading partner, and the new strategic agenda reflects India's growing global influence.
The new strategic agenda also emphasizes joint engagement on global issues and highlights the importance of EU-India joint engagement with third partners. Closer EU-India relations are seen as vital for diversifying supply chains in response to the uncertain global order.
President von der Leyen stated that the EU-India strategy aims to advance the clean transition and drive innovation together. The new strategic agenda does not specify any new aims beyond those previously mentioned, but it does not rule out the possibility of future developments.
It is worth noting that the new strategic EU-India agenda does not mention any specific global challenges to be tackled. However, the initiative seeks to help tackle major global challenges by working together on issues such as climate change, digital transformation, and sustainable development.
The new strategic EU-India agenda does not provide details on any new initiatives or actions, but it does emphasize the importance of strengthening economic growth and security. The initiative is intended to be a framework for future cooperation between the EU and India, and it is hoped that it will lead to a closer and more productive partnership between the two regions.
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