Modi, EU’s chief reaffirm commitment to conclude FTA by end of this year

New Delhi: Prime Minister Narendra Modi and European Commission President Ursula von der Leyen on Wednesday reaffirmed their commitment to conclude negotiations for the much-awaited free trade deal between India and the European Union (EU) by December.

The issue figured when the top EU leader called up Modi to greet him on his 75th birthday.

The Prime Minister also conveyed to von der Leyen his appreciation for the EU’s adoption of a new strategic agenda for ties with India.

The new strategic agenda aims to “deepen, broaden, and better coordinate” bilateral cooperation between the two sides including in areas of security.

“Always a pleasure to speak to President Ursula von der Leyen. Thank you for your warm birthday greetings. Delighted to know about the ‘New

Strategic EU-India Agenda’ adopted today,” Modi said in a post on ‘X’.

“India is ready to take the India-EU relationship to the next level. It is our shared commitment, shared goal, and shared responsibility. We remain committed to an early and peaceful resolution of the Ukraine conflict,” he said.

An Indian readout said the two leaders welcomed efforts towards further strengthening the India-EU strategic partnership for mutual prosperity, as well as for jointly addressing global issues.

Modi and von der Leyen reaffirmed their commitment for a conclusion of the India-EU FTA negotiations before the end of the year, it said.

The 13th round of negotiations for the free trade agreement between the two sides was held last week in New Delhi.

The European Union is India’s biggest trade partner with bilateral trade in goods recording USD 135

billion in the financial year 2023-24.

The two sides have already concluded negotiations on 11 chapters that included customs and trade facilitation, dispute settlement, digital trade, sustainable food system, small and medium-sized enterprises, competition and subsidies and capital movements.

Negotiations on several key chapters including rules of origin and market access are yet to be concluded.

“The leaders also exchanged views on regional and global issues of mutual interest. India remains committed for an early and peaceful resolution of the conflict in Ukraine,” the readout said.

“Prime Minister Modi reiterated his invitation for the India-EU

Summit to be held in India next year,” it added.