New Delhi, Feb 6 (NationPress) Emphasizing the strengthening alliance between India and the European Union (EU), External Affairs Minister (EAM) S. Jaishankar articulated on Friday that the ratification of the Free Trade Agreement (FTA) represents a pivotal moment in their bilateral relationship during his address at the India-EU forum.

He pointed out the promising avenues for enhanced collaboration in sectors such as security, defense, climate initiatives, technology, and talent mobility.

“I addressed the inaugural India-EU Forum this morning. I underscored that the FTA marks a game-changing development for our partnership. Additionally, I highlighted other sectors that offer significant potential, including security, defense, climate change, technology, and talent exchange. I hope the India-EU Forum fosters further discussions and cultivates greater alignments between India and the EU,” EAM stated on X.

Previously, on January 27, Prime Minister Narendra Modi, along with European Council President Antonio Costa and European Commission President Ursula von der Leyen, celebrated the successful conclusion of negotiations for the landmark India–EU FTA.

“This historic agreement marks a significant milestone in the India–EU Strategic Partnership, which will notably enhance bilateral trade and investment connections, promote shared prosperity, fortify resilient and diversified supply chains, and support sustainable and inclusive growth,” stated a joint declaration issued following the 16th India–EU Summit co-chaired by the three leaders.

The leaders underlined the crucial role of the World Trade Organisation (WTO) in the multilateral trading ecosystem and global trade governance, asserting that comprehensive reform of the WTO is vital for improving its operations to better serve the objectives of all its members.

Amid global uncertainty and disruptions, the reinforcement of economic relations between India and the EU is increasingly vital to stimulate growth, create jobs, facilitate green transitions, and develop more robust, sustainable, and reliable supply chains, as highlighted in the statement.

The leaders of India and the EU are devoted to ensuring the complete execution of the FTA. They also instructed their teams to expedite negotiations on an Investment Protection Agreement (IPA) and an Agreement on Geographical Indications (GIs). Their commitment extends to boosting bilateral investments and engaging in discussions on Blue Valleys to enhance private sector involvement in strengthening selected value chains, according to the joint statement.