India-EU Summit: PM Invites Investment from Europe; asks for 'action-oriented' agenda

PM Modi spoke about the need to give birth to a new form of globalisation in a post-pandemic world, focusing on humanity.

"Till now we have sent medicines to 150 nations. EU and its nations have accelerated access to COVID tools. India's pharma companies are committed to give their inputs," says PM Modi. 

"India-EU partnership is useful for peace and stability in the world. This reality has become even more clear in today's global situation," added the PM. 

European Council President Charles Michel says cooperation with India needed to combat global challenges in a 'humanity-centric' way. 

"We need strong cooperation between democratic nations, given the present challenges," says PM Modi. 

"Apart from current challenges, long-term challenges like climate change also a priority for India and the EU. In our efforts to increase the use of renewable energy in India, we invite investment and technology from Europe," said PM Modi.

During the Summit, the two sides are also expected to kick off a process for effective cooperation between the Central Bureau of Investigation (CBI) and the Europol, unveil a five-year roadmap to further expand ties and are likely to launch a separate dialogue on maritime security and for boosting trade and investment, the officials said.

The Indian delegation at the summit will be led by Prime Minister Narendra Modi while the European side will be headed by President of the European Council Charles Michel and President of the European Commission Ursula von der Leyen, news agency PTI reported.

In a major step forward, the India-European Union summit will take place on July 15 via virtual mode amid existing Coronavirus (COVID-19) pandemic, report sources. Sources report that the summit will focus on reviving Free Trade talks, which had been stalled for the past few years. India will also reportedly discuss WHO's progress in COVID-19 collaboration.

Sources state that the European Union- the apex body comprising of 27 member nations - is looking to diversify its supply chains from China, giving India an opportunity to expand its trade ties.

In a bid to strengthen India’s relations with the European Union (EU), Prime Minister Narendra Modi will be taking part in India-EU summit on July 15. While the world is battling COVID-19 pandemic, PM Modi showcased confidence that the meet at 4:30pm will further enhance the ties along with economic and cultural connections of the nation with 27-nation-bloc.