India-EU summit: Narendra Modi says partnership necessary for ‘financial restoration’ publish COVID-19

Addressing the 15th India-EU summit, Modi said there is a need for more cooperation among democratic nations to deal with economic problems.

Stating that India and the European Union are “natural partners”, Prime Minister Narendra Modi on Wednesday said that the India-EU partnership can play an important role in “economic reconstruction” as new problems have emerged globally after the COVID-19 pandemic.

Addressing the 15th India-EU summit, he said there is a need for more cooperation among democratic nations to deal with economic problems.

“After COVID-19, new economic problems emerged globally. For this, we feel the need for more cooperation among democratic nations. Today, both the health and prosperity of our citizens are facing challenges. There are different types of pressures on the rules-based international order. Thus, the India-EU partnership can play an important role in economic reconstruction, and in building human-centric globalisation,” he said.

Apart from the current challenges, Modi said that long-term challenges like climate change are also a priority for both India and the EU.

“In our efforts to increase the use of renewable energy in India, we invite investment and technology from Europe. I hope that through this virtual summit, our relations will gain momentum,” he said.

Terming India and the European Union “natural partners,” Modi called for creating an action-oriented agenda to foster the partnership and said he is committed to making relations “deep and comprehensive”.

“Due to COVID-19, we had to postpone India-EU summit. It is good that we are able to come together today through a virtual medium. Like you, I am also committed to making our relations deep and comprehensive,” the prime minister said.

“For this, we must adopt a long-term strategic perspective. Along with this, an action-oriented agenda should be created, which can be implemented within the stipulated time frame. India and the EU are natural partners. Our partnership is also useful for peace and stability in the world. This reality has become even more evident in today’s global situation,” he added.

Modi also said that India and EU both share universal values like democracy, pluralism, inclusivity, respect for international institutions, multilateralism, freedom and transparency.

The EU is represented at the summit by European Council President Charles Michel and European Commission President Ursula von der Leyen.

The summit was scheduled to happen earlier this year but was postponed due to coronavirus pandemic and is being held virtually.

The topics of trade and investments were likely to be on the agenda for Wednesday’s summit, reports said.

Further, The Indian Express reported, “The two sides will also announce a new maritime security dialogue, since the EU has been quite active in the Indian Ocean region and had displayed considerable amount of skill and capacity while combating piracy in the western Indian Ocean region. Sources said the two sides will decide to push for stronger defence and security cooperation, and one of them will be to launch negotiations for a pact between CBI and Europol.”

With inputs from agencies

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