India-EU trade and investment pacts to resume in June

On Monday, Prime Minister Narendra Modi and European Commission President Ursula von der Leyen welcomed a decision by India and the European Union to formally commence negotiations on long-stalled trade and investment agreements in June.

The topic came up during Modi and von der Leyen’s wide-ranging talks, during which both sides evaluated progress on the implementation of the India-EU Roadmap 2025, which aims to considerably increase ties.

Both parties expressed hope in the early conclusion of negotiations for “unlocking the full potential” of bilateral trade and economic relations, the Ministry of External Affairs said in a statement, referring to the India-EU Trade and Investment Agreements.

After an eight-year hiatus, India and the European Union (EU) declared in May of last year that they will resume discussions for a balanced and comprehensive trade agreement.

”They welcomed the recent decision to formally restart negotiations on India-EU Trade and Investment agreements by June 2022. Both sides expressed hope in the early conclusion of negotiations for unlocking the full potential of bilateral trade and economic relations,” the MEA said.