‘Open for business’: EU's new India agenda to focus on key areas, trade agreement by year-end

THe European unification (EU) on midweek proposed a young strategical order of business to raise bilateral relations with India to a higher level. "Europe is already India's biggest trading partner and we are committed to finalising our Free Trade Agreement by the end of the year. Europe is open for business. And we are ready to invest in our shared future with India.” European Commission President Ursula von der Leyen said in a communique released from Brussels.She also wished Prime Minister Narendra Modi on his birthday as he turned 75 on September 17. Modi's post about it on X said: “India is ready to take the India-EU relationship to the next level. It is our shared commitment, shared goal, and shared responsibility. We remain committed to an early and peaceful resolution of the Ukraine conflict."The European Commission, which is the EU's executive body; and the High Representative, the top diplomat for EU's common policy on foreign and security issues, adopted the Joint Communication addressed to the European Parliament.“Now is the time to focus on reliable partners and double down on partnerships rooted in shared interests and guided by common values. With our new EU–India strategy, we are taking our relationship to the next level," added President von der Leyen, who announced the agenda in her Political Guidelines for 2024-2029.The Joint Communication identifies key areas of shared interest and complementary strengths, building on existing ties while addressing areas that present potential for increased engagement, said a release. It underlined that amid shifting geopolitical realities, closer EU-India relations are increasingly vital, particularly for diversifying supply chains in response to today's uncertain global order.It spoke of India's growing global influence: “Beyond the bilateral dimension, the new strategic agenda highlights EU-India joint engagement on global issues and with third partners.”Among priorities, it said the Joint Communication takes forward the proposed EU-India Security and Defence Partnership. It listed joint initiatives on maritime security, cyber defence, and counterterrorism.“Closer cooperation on the Indo-Pacific, addressing hybrid threats, space security, and intensifying engagement on Russia's war against Ukraine, shadow fleets, and sanctions are other areas of focus,” it said.The document propose structuring the new India-EU strategic agenda around five pillars of cooperation.These include ‘prosperity and sustainability’, under which there is the aim of boosting trade and investment and finalising the Free Trade Agreement (FTA) by end of 2025.On tech and innovation, the document speaks of cooperation on critical emerging technologies such as AI, semiconductors, high-performance computing, and space tech.On security, it envisages deepening engagement on regional security, and facilitating defence industrial cooperation to boost production capabilities, innovation, and secure supply chains.On connectivity, the plan is to strengthen shape global governance through coordinated multilateral engagement on UN reforms, WTO modernisation, climate action, human rights, and security.Plus, to enable cooperation across categories, the plan is to expand skills mobility including in the digital sector; promoting mutual understanding through educational exchanges, cultural diplomacy, and academic cooperation; and engaging business communities with EU-India business forums, among other plans.