Prime Minister Narendra Modi On Monday, European Commission President Ursula von der Leyen met and the two leaders had productive discussions during a review of India-EU cooperation in trade, investment, technology and climate action. Prime Minister Modi, who is in Germany on a two-day visit from Sunday for the G-7 summit, met von der Leyen on the sidelines of the G7 summit at Schloss Elmau, the summit’s picturesque site in southern Germany.
President @EU_Commission @vonderleyen And I had an excellent meeting earlier today. We discussed ways to deepen investment ties, efforts to combat climate change, promote digital cooperation and other important issues. pic.twitter.com/dDpbMBlWHw
— Narendra Modi (@narendramodi) June 27, 2022
PM @narendramodi and @EU_Commission President @vonderleyen held talks on the sidelines of G-7 summit. Issues such as strong trade ties, cooperation to mitigate climate change, emerging technologies and cultural ties were discussed during the meeting, the Prime Minister’s Office tweeted. Foreign Ministry spokesperson Arindam Bagchi said that during their talks, Prime Minister Modi and the President of the European Union Commission welcomed the resumption of negotiations on trade, investment and geographical indication agreements.
Had a fruitful discussion between PM @narendramodi and President @EU_Commission @vonderleyen on the margins of G7. Reviewed India-EU cooperation in trade, investment, technology, climate action. Bagchi said on Twitter that he welcomed the resumption of negotiations on trade, investment and GI agreements. PM @narendramodi met the President of @EU_Commission @vonderleyen. The Ministry of External Affairs (MEA), the official account of India’s public diplomacy, said on Twitter, the #IndiaEU relationship is shaped by ever-increasing bilateral cooperation and partnership.
This was their second meeting in two months after coming to New Delhi in April. India as President of the European Commission. In April, Prime Minister Modi and von der Leyen announced the establishment of India-EU trade and technology Council, a high-level strategic mechanism to address major trade, economic and technological challenges.
In their talks, both sides also agreed to start India-EU trade technology Council (TTC), a strategic coordination mechanism to address challenges on the nexus of trade, reliable technology and security. India and the European Union are ready to strengthen comprehensive trade and investment agreements before the election cycle of both sides begins in 2024, EU Ambassador to India Ugo Astuto said on April 29.
India is the second country after the US to have such a mechanism along with the 27-nation European Union. In May last year, India and the European Union (EU) announced the resumption of talks for a balanced and comprehensive trade agreement after a gap of more than eight years.
The European Union is one of the largest investors in India, accounting for 16 per cent of the total investments received between 2015-20 (euro 83 billion between 2000 and 2021). The European Union said there are 4,500 European companies operating in India, contributing to the creation of over 1.5 million direct and 5 million indirect jobs in the country.
The Investment Facilitation Mechanism was set up in 2017 to facilitate entry of EU companies proposing to invest in India.
read all breaking news , today’s fresh news watch top videos And live TV Here.