India, EU Aim to Finalise Free Trade Deal by December, Says Modi After Talks with European Commission President

Ursula von der Leyen, president of the European Commission, and Prime Minister Narendra Modi reiterated on Wednesday their intention to wrap up talks for the much-anticipated free trade agreement between India and the EU by December.

According to PTI,  when the top EU leader called Modi to wish him a happy 75th birthday, the problem arose.

Additionally, the prime minister expressed his gratitude to von der Leyen for the EU's approval of a new strategic framework for relations with India.

PTI reported that the new strategic agenda aims to "deepen, broaden, and better coordinate" bilateral cooperation between the two sides, including in areas of security.

"Always a pleasure to speak to President Ursula von der Leyen. Thank you for your warm birthday greetings. Delighted to know about the 'New Strategic EU-India Agenda' adopted today," Modi said in a post on 'X'.

"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," he said.

According to an Indian readout, the two leaders praised initiatives to deepen the strategic cooperation between India and the EU for both mutual prosperity and cooperatively tackling global concerns.

According to the statement, Modi and von der Leyen reiterated their intention to conclude the India-EU free trade agreement negotiations by the end of the year.

Last week, the 13th round of the two parties' free trade agreement negotiations took place in New Delhi.

India's largest trading partner is the European Union, with USD 135 billion in bilateral goods trade in the fiscal year 2023–2024.

Reportedly, customs and trade facilitation, dispute resolution, digital commerce, the sustainable food system, small and medium-sized businesses, competition, subsidies, and capital flows are among the eleven chapters that the two parties have already finished negotiating.

There are still several important chapters that need to be negotiated, including market access and rules of origin.

"The leaders also exchanged views on regional and global issues of mutual interest. India remains committed to an early and peaceful resolution of the conflict in Ukraine," the readout said.

"PM Modi reiterated his invitation for the India-EU Summit to be held in India next year," it added.