India-EU Leaders’ Meeting
At the invitation of the President of the European Council Mr Charles Michel, Prime Minister Shri Narendra Modi participated in the India-EU Leaders’ Meeting on 08 May 2021.
This was the first time that the EU hosted a meeting with India in the EU+27 format. The India-EU Leaders’ Meeting was hosted by Prime Minister of Portugal, Mr António Costa. At present, Portugal holds the Presidency of the Council of the European Union.
During the meeting, the leaders expressed their desire to further strengthen the India-EU Strategic Partnership.
They exchanged views on three key thematic areas:
(i) Foreign policy and security
(ii) COVID-19, climate and environment
(iii) Trade, connectivity and technology
At the meeting, India and the EU launched an ambitious and comprehensive ‘Connectivity Partnership’.
Focus of the Partnership:
The Partnership is focused on enhancing digital, energy, transport and people-to-people connectivity.
Base of Partnership:
The Partnership is based on the shared principles of social, economic, fiscal, climate and environmental sustainability, and respect for international law and commitments.
Benefits of Partnership:
The Partnership will catalyze private and public financing for connectivity projects. It will also foster new synergies for supporting connectivity initiatives in third countries, including in the Indo-Pacific.
India-EU Business Roundtable:
Along with the meeting of EU leaders, an India-EU Business Roundtable was also organized to highlight the avenues for cooperation in climate, digital and healthcare. The 150 million Euro finance contract for the Pune Metro Rail project was signed by the Ministry of Finance, Government of India and the European Investment Bank.