India-EU relations important for the world too: External Affairs Minister Jaishankar

Describing ties between India and the EU as “of consequence for the world as well”, External Affairs Minister S Jaishankar said the EU is not only “our largest economic partner” but the ties are “very deep, spanning multiple sectors”. .

Greeting EU Ambassador to India Hervé Delfin, Jaishankar said, “I think today the relationship between India and the EU is important not only for each of us but also for the world. “The EU is our largest economic partner, but it is much more than that.”

“This is an entity with which we have a really very deep relationship, which spans across many areas… not only in the relationship between New Delhi and Brussels, but also in regional and sub-regional formats, in which we are a -Connected with each other and in many areas. Institutions of which we are both members and where we cooperate with each other. And of course, an important element of this is economic relations,” Jaishankar said in his address at the Europe Day celebrations here in New Delhi.

Notably, the External Affairs Minister was the chief guest at an event to commemorate Europe Day, which is observed every year on 9 May to celebrate peace and unity in Europe.

Jaishankar said the need of the hour is to have a more “resilient and reliable” supply chain.

“I think we are one of your two partners for the Trade and Technology Council, a fact that in many ways not only underlines the present and importance of our relationship,” he said.

“When one looks at the challenges facing the world, there is a need for more flexible and reliable supply chains, stronger digital collaboration based on trust and transparency. There is really a need in many ways to de-risk the global economy, I think both India and the EU can contribute, but especially by working with each other,” the External Affairs Minister said. Said.

Acknowledging the EU’s contribution to the India-Middle-East-Europe Economic Corridor (IMEC), Jaishankar said, “We certainly value it and look forward to taking it forward.”

“One of the most welcome developments for us in recent years has been the increased interest in the Indo-Pacific by the EU and individual European states. “Many countries and the EU as a whole today have a vision for the Indo-Pacific that we very sincerely welcome,” he said.

Recalling the G20 summit chaired by India in September last year, he said, “Today we are seeing a much more serious partnership in the field of security; It is a great pleasure for us to welcome Europe’s defense presence in this part of the world from time to time. As the country holding the G20 presidency, we greatly appreciate the value and contribution the EU and individual European states bring to the G20.

“We greatly value the invitations extended to us from time to time to attend G7 proceedings,” the minister said.

Meanwhile, appreciating mutual ties, EU envoy Hervé Delfin said India is a country that has “gained tremendous importance for the EU” and the partnership “will deepen further.”

“In this turbulent environment, there is one country and one relationship that has gained tremendous importance for the EU, and that is India,” Delfin said during his speech at the event.

In March this year, India and the European Free Trade Association (EFTA) signed a Trade and Economic Partnership Agreement (TEPA) with four European states – Iceland, Liechtenstein, Norway and Switzerland.

EFTA has committed to increase the stock of foreign direct investment in India to US$100 billion over the next 15 years and promote investment to facilitate creation of 1 million direct jobs in India.