Von der Leyen, accompanied by the European Commission or the group’s senior political leaders, visited Thursday for a two-day visit.
“The world is full of dangers. But I believe this modern version of the thrilling competition is an opportunity for Europe and India to reimagine their partnerships,” she said in a think tank before the talks with PM Modi.
“In many ways, both the EU and India responded to this challenge uniquely,” she said.
The two sides are also expected to consider the Russian-Ukrainian conflict, the situation in the Indo-Pacific and the development of West Asia.
A joint statement is expected to be issued following the Modi-Von der Leyen talks. The EU is eager to expand its trade basket with India, and both sides believe that the proposed free trade agreement will significantly enhance economic participation. In the fiscal year 2023-24, India’s bilateral commodity trade with the EU was US$135 billion, exported to the EU was US$76 billion, and imports from the EU at US$59 billion, making New Delhi’s largest commodity trading partner the EU.
Bilateral services trade in 2023 is US$53 billion, including India’s exports worth US$30 billion and imports worth US$23 billion, accounting for the highest service trade ever.
The EU’s investment in India is worth more than US$117 billion, with approximately 6,000 European companies in India.
India’s investment in the EU is worth about $40 billion.
