Europe & India to work together to shape a new global order: EU chief, Pg1

Key Highlights:

• European Commission President Ursula von der Leyen and European Council President Antonio Luis Santos da Costa were the chief guests at India's 77th Republic Day.
• A comprehensive strategic agenda for 2026-2030, a Free Trade Agreement (FTA), a Security and Defence Partnership, and a mobility framework are expected outcomes of the EU-India Summit.
• The EU-India FTA aims to be operational in 2026, following legal procedures and parliamentary approvals.
• Exploratory talks will commence regarding India’s association with Horizon Europe to enhance collaboration in research and innovation.

Detailed Insights:

• The EU-India Summit aims to elevate the partnership to new heights, focusing on shared democratic values and a commitment to shaping a new global order.
• The Security and Defence Partnership will deepen cooperation in areas such as maritime security, cyber-security, and counter-terrorism.
• The mobility framework will facilitate the movement of students, researchers, skilled professionals, and seasonal workers between India and Europe.
• The leaders will address global issues, including the Russia-Ukraine war, the Indo-Pacific region's stability, and the situation in the Middle East.
• Discussions will also focus on the India-Middle East-Europe economic corridor to improve connectivity in transport, digital infrastructure, and energy.
• PM Modi is expected to address concerns regarding Pakistan and China's actions while reiterating India's balanced diplomatic stance on the Ukraine conflict and the Gaza peace process.

Key Concepts Involved:

• Free Trade Agreement (FTA): An agreement between two or more countries to reduce or eliminate barriers to trade, such as tariffs and quotas.
• Horizon Europe: The EU’s key funding programme for research and innovation with a budget of €95.5 billion.
• Multilateral System: A system of international relations based on cooperation and collaboration among multiple countries.