Had an “outstanding meeting” with European Commission President, says PM Modi
On the sidelines of the G-7 summit Prime Minister Narendra Modi on Monday met European Commission President Ursula von der Leyen here and held productive discussions as the two leaders reviewed the India-EU cooperation in trade, investment, technology, and climate action, and exchanged views on contemporary global and regional developments.
Prime Minister Modi is in Germany on a two-day visit for the summit of the G-7, said that he had an “outstanding meeting” with the European Commission President.
PM Modi tweeted, “President EU Commission Ursula von der Leye and I had an outstanding meeting earlier today. We discussed ways to deepen investment linkages, efforts to combat climate change, boosting digital cooperation and other important issues.”
President @EU_Commission @vonderleyen and I had an outstanding meeting earlier today. We discussed ways to deepen investment linkages, efforts to combat climate change, boosting digital cooperation and other important issues. pic.twitter.com/dDpbMBlWHw
— Narendra Modi (@narendramodi) June 27, 2022
Ministry of External Affairs Spokesperson Arindam Bagchi said, “During their talks, Prime Minister Modi and the EU Commission President welcomed the resumption of negotiations on the trade, investment, and geographical indication agreements.”
This was their second meeting in two months after she visited New Delhi in April, her first visit to India as the president of the European Commission in which both the leaders announced the setting up of an India-EU Trade and Technology Council, a high-level strategic mechanism to tackle key trade, economic and technological challenges.
India is the second country after the US to have such a mechanism with the 27-nation European Union. In May last year, India and the European Union (EU) announced to resume negotiations for a balanced and comprehensive trade agreement after a gap of over eight years. The EU is one of the largest investors in India, accounting for 16 percent of total investments received between 2015-20 (83 billion euros between 2000 and 2021).
The EU 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 established in 2017 to facilitate the entry of EU companies proposing to invest in India.
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