PM Modi invited European companies to invest in FDI in India to improve the ease of doing business
New Delhi:
Prime Minister Narendra Modi shared India’s view on Indo-Chinese relations in general and the current situation in border areas, although no discussion has taken place on the clashes in the Galwan Valley with the European Union (EU), said Vikas Swarup, secretary of the Ministry of Foreign Affairs (West), on Wednesday.
“As part of the review of global and regional development, our relations with China were discussed. The Prime Minister shared our views on Indo-Chinese relations in general and on the current situation in the border areas”, said said Mr. Swarup at a press conference. briefing after the conclusion of the 15th India-EU summit.
He also said there is no fixed deadline for concluding the Bilateral Trade and Investment Agreement (BTIA), but India and the European Union (EU) must move discussions forward. .
He said: “The leaders of the two sides expressed their keen interest and full commitment to develop the India-EU strategic partnership to new depths. They adopted the strategic partnership roadmap until 2025 as a new framework for improve relations in various fields, foreign policy, security, trade and investment, economic collaboration, cooperation for innovative and climate-friendly solutions, digital technologies and broad-based trade and investment agreement connectivity. “
Leaders have recognized that post-COVID economic recoveries offer opportunities to unleash the full potential of their economic ties, including a discussion on the supply chain links between India and Europe, said Mr. Swarup.
He also said that the Prime Minister had invited European companies to invest in foreign direct investment in India, taking into account efforts to improve the ease of doing business, the regulatory environment and the objective of integrate India into ongoing supply chains.
Speaking on the discussions held at the 15th India-EU summit, the MEA secretary said: “The 15th India-EU summit has just ended. Our relationship with the EU is active and covers all the dynamics under -tended by strong people-to-people ties. The EU is our main trading partner for goods with trade exceeding $ 100 billion. We also have a significant trade in services of around $ 40 billion. The EU is the “one of the largest investors in India with a cumulative investment of over $ 91 billion. The EU is also an important source for technological innovation and best practices.”
Swarup said the summit was held in a very warm atmosphere marked by mutual respect.
“The discussions focused on the common response to the pandemic, the strengthening of the India-EU strategic partnership and its different dimensions as well as our convergences and collaborations on the world stage covering multilateralism, international organizations and contemporary developments”, a he declared.
He also informed that Prime Minister Narendra Modi appreciates the EU’s global initiative against coronaviruses to speed up access to COVID-19 tools, vaccines, treatments and diagnostics.
“Recognizing their mutual strengths and synergies, such as our roles in pharmaceuticals and research, the EU and India have agreed to step up cooperation and the response to the coronavirus, including on accessibility and accessibility of COVID-19 tools. President of the European Council Charles Michel and President of the European Commission Ursula von der Leyen greatly appreciated the timely assistance provided by India in terms of the supply of medicines to EU countries ” , did he declare.
“They called for India’s active engagement in the universal and affordable vaccines for all initiative,” said Swarup.
