PM Modi, EU leaders discuss early conclusion of FTA

NEW DELHI: As India and EU look to scale up ties amid increasing global uncertainties, PM Narendra Modi spoke to EU leaders – President of European Council Antonio Costa and President of the European Commission Ursula von der Leyen – reaffirming commitment to trade, technology and defence ties and an early conclusion of FTA under negotiations.Costa and von der Leyen said EU is committed to concluding FTA negotiations by end of year and would launch a joint strategic agenda at the next EU-India summit in 2026. To conclude FTA this year, von der Leyen said “progress is needed now”.EU trade commissioner Maros Sefcovic is likely to be in the Capital next week to discuss the trade deal. As they discussed Ukraine conflict, and Modi reiterated India’s consistent support for peaceful resolution of conflict and early restoration of peace and stability, von der Leyen said India has an important role to play in bringing Russia to end its war of aggression and helping create a path towards peace. “We welcome India’s continued engagement with Zelenskyy. Ukraine war carries global security consequences and undermines economic stability. So, it is a risk to the entire world,” she said.According to an Indian readout, the leaders also welcomed progress in bilateral ties in key sectors of trade, technology, investment, innovation, sustainability, defence, security and supply chain resilience, & reaffirmed shared commitment for an early conclusion of India-EU FTA negotiations and implementation of IMEEC corridor. Modi invited them to India for an early India-EU summit. India’s push for an early FTA with EU was evident on Wednesday as external affairs minister S Jaishankar urged his visiting German counterpart Johann Wadephul to expedite negotiations. Jaishankar told him that India-EU FTA will help stabilise global economy. Wadephul had also backed FTA saying when third parties are creating trade impediments, India and EU should respond by removing such roadblocks and hurdles between them.