NEW DELHI: Prime Minister Narendra Modi and European Commission president Ursula von der Leyen on Friday issued directions to conclude an ambitious free trade agreement by end of this year as the two leaders vowed to expand India-EU strategic partnership in areas of defence, security and critical technology.
In his media statement after talks with Von der Leyen, Modi described India-EU strategic partnership as "natural and organic" and one that it is based on "trust" and shared belief in democratic values.
"We have directed our teams to conclude a mutually beneficial bilateral free trade pact by the end of this year," he said, in a hugely significant decision that came amid growing global concerns over the Trump administration's policy on trade and tariff.
The prime minister said both sides are also looking at forward movement on negotiations for an investment protection pact as well as an agreement on Geographical Indications.
On connectivity, Modi said concrete steps will be taken to take forward the India-Middle East-Europe Economic Corridor (IMEEC).
"I am confident that the IMEEC corridor will prove to be an engine to drive global commerce, sustainable growth and prosperity," he said.
The prime minister also called the visit of Von der Leyen and other the College of Commissioners to India as "unprecedented".
Modi said India and the EU agreed on the importance of peace, security, stability and prosperity in the Indo-Pacific region.
Many decisions have been taken to elevate and accelerate India-EU partnership, he said.
In her remarks, the European Commission president said the EU wants to take its relationship with India to new heights.