In this article, we have analysed the significance of India-EU relations in the last few years which is considered as one of the important topics for IAS Mains Exam. Questions on such issues in IAS Mains Exam Paper II can be asked. So, by keeping the pattern of asking questions on international relation, we have provided an analysis of India-EU relations based on the recent India-European Union summit.
The 14th India-European Union summit was completed on October 6 in New Delhi. Indian Prime Minister Narendra Modi met top leaders from the European Union to discuss measures to strengthen India’s ties with the EU in key areas of trade and security. In the summit, many negotiations went underway between officials from India and the EU. The officials from both sides put efforts to explore ways on how they will move forward on the stalled negotiations over numerous issues such as a new and ambitious Free Trade Agreement (FTA), which will encompass goods, services as well as mutual investment protection. We have discussed all the significant issues which were discussed in the summit below:
At the end of delegation-level talks, both sides also inked three agreements in the basket of deals between two sides. These agreements are:
1. European Commission and the Science and Engineering Research Board (SERB).
2. Finance contract of Bangalore Metro Rail Project Phase-2-Line R6 for 300 million euros, of the total European Investment Bank (EIB) loan.
3. And a joint declaration between the interim secretariat of the International Solar Alliance (ISA) and the EIB.
It is a new development between EU and India that The European Investment Bank would help member countries of the India-initiated ISA to implement solar energy projects.
Renewable Energy and Climate Change
The renewable energy would be useful in doing clean development in both EU countries and India. The EU-India initiative on clean development and climate change focuses on:
1. Cooperation on clean technology
2. The Clean Development Mechanism
3. Adaptation to climate change and sustainable development strategies.
The top most agenda of the European leaders was the conclusion of the FTA. And India focused more on issues related to counter-terrorism and security.
Under the FTA, the issue of data adequacy and greater market access was discussed at length during the summit-level meeting.
Trade and investment, science and technology, and innovation and education will remain on the Indo-European partnership platter. But in an increasingly hostile global environment it would be difficult to implement such cooperation.
Both EU and India will have to give such cooperation a strategic and democratic direction to navigate hostile global environment.
The U.S. and EU are looking forward to join hands in defense of the liberal order. And, India has also joined hands with EU in this summit. This move will help in protecting the international principles and institutions that have supported the development all around the globe.
This is the right time for New Delhi, and EU to strengthen security and stability of both India and Europe. But both sides are required to reform the multilateral architecture to prevent the rise of isolationist, unilateral and authoritarian forces.