PM Modi says India-EU summit to strengthen economic, cultural ties; jobs, trade, other issues on cards

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Updated: Jul 15, 2020 11:58 AM

On the back of the coronavirus-led economic crisis, the leaders in the India-EU summit will discuss global cooperation and solidarity to protect lives, in order to mitigate the socio-economic risks.

narendra modi, India-EU summit, trade, jobs, investmentThe summit will include discussions on cooperation in the areas of security, climate, environment, trade and investment, digital economy, and connectivity. (Bloomberg image)

Ahead of the virtual India-EU summit, Prime Minister Narendra Modi said that the dialogue would further strengthen India’s economic as well as cultural linkages with the European Union. On the back of the coronavirus-led economic crisis, the leaders will today discuss global cooperation and solidarity to protect lives, in order to mitigate the socio-economic risks and to strengthen preparedness and response capacities, said the Council of the European Union in a statement. The summit holds an important place in these challenging times as the discussion will include cooperation in the areas of security, climate, environment, trade and investment, digital economy, and connectivity, it added.

The 15th summit between India and the European Union will be held today via video conference, where the EU will be represented by Charles Michel, President of the European Council, and Ursula von der Leyen, President of the European Commission, while India will be represented by PM Modi. The leaders are expected to talk on their determination to promote effective multilateralism with the United Nations (UN) and the World Trade Organisation (WTO), it added. Global and regional issues are expected to be at the core of today’s discussion.

Also Read: PM Modi’s employment mantra on how to remain relevant in job market; says this is key to Atma Nirbhar Bharat

The European Union and India have been cooperating with each other for ages as they share principles and values of democracy, freedom, rule of law, and respect for human rights, aiming at delivering concrete benefits for people in the EU and India. After 13 years of negotiations, India and the EU have sealed a civil nuclear cooperation agreement recently.

Watch: News with Financial Express July 15, 2020

Amid the global rage to ban Chinese apps on the back of emerging cybersecurity threats, the leaders will also exchange views on the geopolitical situation and global cyber resilience. India has recently banned 59 Chinese apps, calling it a threat to the country’s integrity, sovereignty, and national security. Similar moves have been taken by the United States and Hong Kong too.

Among other major areas of the discussion, the leaders are expected to talk on synergies in healthcare, the production of pharmaceuticals and vaccines, research and development, diagnostics, and treatment. They will also discuss the importance of the manufacturing of medical supplies and ensuring a continued flow, along with agricultural products, raw materials, and other goods and services.

While the global economy is expected to slip into a recession this year, with Singapore already recording a 41 per cent contraction in the country’s GDP in the second quarter, the discussion is likely to include the prospects to develop trade and investment relations and support sustainable growth and jobs on both sides.

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