New Delhi: India and the EU are committed to early progress in the Free trade Agreement (FTA) negotiations, Prime Minister Narendra Modi said on Monday. During his joint press statement after meeting German Chancellor Olaf, PM Modi said, "In the post-COVID era, India is witnessing the fastest growth compared to other growing economies. We are confident that India will be an important pillar of global recovery. Recently, we signed trade agreements with the UAE and Australia in a very short time. We, even with the EU, are committed to early progress in the FTA negotiations".
He noted that India's skilled workers and professionals have benefited the economies of many countries. He expressed confidence that the Comprehensive Migration and Mobility Partnership Agreement between India and Germany will facilitate movement between the two countries. PM Modi is on a three-day European nations tour, will also travel to Denmark and Paris on the 3rd and 4th of May.
His visit comes as the Russian invasion rages on. There is a shift in the geopolitical scenario in the aftermath of the Russian invasion. India is now looking to boost ties with the EU in terms of trade, and strategic and bilateral partnerships. While pointing out that the recent geopolitical events showed how fragile world peace and stability are, and how inter-connected all countries are, PM Modi said that 'India from the very beginning of the Ukrainian crisis, called for an immediate cease-fire, insisting that dialogue is the only way to resolve the dispute'.
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He stated that there will be no winning party in this war and that 'everyone will suffer'. "That is why we are in favour of peace. Oil prices are skyrocketing due to the turmoil triggered by the Ukraine conflict; there is also a shortage of food grains and fertilizers in the world. This has burdened every family in the world, but its impact on developing and poor countries will be even more serious", he said.
He reiterated that India is deeply concerned by the humanitarian impact of this conflict and has sent humanitarian aid to Ukraine. PM Modi noted that India is also trying to help other friendly countries through food exports, oil supplies and economic assistance. He said that the last IGC was held in 2019. Significant changes have taken place in the world since then.
'For Chancellor Scholz, Monday's India-Germany IGC is the first IGC with any country this year. These many firsts show how much priority both India and Germany are giving to this important partnership. As democracies, India and Germany share many common values. Based on these shared values and shared interests, there has been remarkable progress in our bilateral relations over the years", he added.
He highlighted that both sides are pursuing the Indo-German Partnership on Green and Sustainable Development. "India has shown to the world that green and sustainable growth is an article of faith for us by raising its climate ambition in Glasgow. Under this new partnership, Germany has decided to support India's green growth plans with additional development assistance of 10 billion euros by 2030", he told reporters during the joint press statement.
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India and Germany have also decided to create a Green Hydrogen Task Force. This will be very useful in enhancing the green hydrogen infrastructure in both countries. Both India and Germany have long experience in development cooperation in other countries. Both the nations have decided to combine their experiences and work on joint projects in third countries through trilateral cooperation. The cooperation will provide an alternative to transparent and sustainable development projects for the developing world.
