New Delhi, January 27 (IANS). Prime Minister Narendra Modi on Tuesday participated in the India-European Union Business Forum held at Bharat Mandapam in New Delhi. During this, he said that this is the trumpet of a new era in India-European Union relations.
Addressing the India-EU Business Forum, he said that for the first time, the leaders of the European Union, their participation as chief guests at India’s Republic Day celebrations, the conclusion of the largest FTA in the history of India between India and the European Union and today the India-EU Business Forum being organized at such a large level with so many CEOs, all these achievements are a symbol of the unprecedented alignment taking place between the two largest democratic powers of the world.
PM Modi said that we have common values. We have shared priorities towards global stability. As an open society there is also a natural connection between our people. On this strong foundation, we are taking our partnership to new heights. We are establishing this as one of the most impactful partnerships in the world. Our trade has doubled in the last 10 years to reach 180 billion euros. There are more than 6,000 European companies operating in India. 1,500 Indian companies are present in the EU.
He said, “Today there is turmoil in global business. Every company is looking at its market strategy and partnerships afresh. At such a time, this FTA is a clear and positive message for the business world. I am confident that all of you will take full advantage of the opportunities of this FTA.”
Speaking at the India-EU Business Forum, the Prime Minister said, “This aligns with many of the priorities of both India and the EU. Your business partnership can also benefit from this. In this context, I will talk about three priorities. First – Today, trade, technology and essential minerals are being used as weapons across the world. We need to work together to reduce our dependence. Can our business community together reduce external dependence in EVs, batteries, chips and APIs? Can we create a common alternative to reliable supply chains?
He further said that secondly, both India and EU have focused on defense industry and new technology. I urge you to increase partnerships in sectors like defence, space, telecom and AI. Third, a clean and sustainable future is a priority for both of us. We should increase joint research and investment in every field from green hydrogen to solar energy and smart grid. Both the industries should also work together on small modular reactors and sustainable mobility. Furthermore, we should jointly develop solutions in areas such as water management, circular economy and sustainable agriculture.
–IANS
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