India-EU FTA serves as a blueprint for shared prosperity, to bring stability in world: PM Modi

NEW DELHI: Prime Minister Narendra Modi on Tuesday said the India-EU free trade agreement is a blueprint for shared prosperity for the global good and will provide stability at a time when the world order is witnessing turmoil.

Modi was speaking at a joint press meet with European Council President Antonio Costa and European Commission President Ursula von der Leyen after the conclusion of negotiations for the India-EU free trade agreement.

“This is not just a trade agreement. This is a new blueprint for shared prosperity,” Modi said, adding that India has concluded the largest free trade agreement in its history.

Noting that there is turmoil in the global environment, Modi said, “India-EU will provide stability to the world order…India-EU cooperation is a partnership for global good”.

The Prime Minister further said the India-EU FTA will help increase cooperation in maritime sector and cybersecurity.

Costa said the India-EU FTA is the most ambitious agreement ever concluded for a market of 2 billion people.

He also said the India-EU summit gives a clear message to the world that India and the EU stand together as reliable partners.

Costa also said that “we count on you (Modi) to help create conditions for peace in Ukraine through dialogue, diplomacy”.

Leyen said the India-Europe partnership will reduce strategic dependency at a time when global trade is being increasingly weaponised.

“We are delivering security for our people in an increasingly insecure world,” she said, adding that India has risen, and Europe is truly glad about it. (PTI)