India, EU asked respective teams to close FTA talks this year, says PM Modi

Informist New Delhi

India and the European Union have instructed their respective trade negotiation teams to close the ongoing discussions for a free trade agreement by the end of this year, Prime Minister Narendra Modi said Friday in a joint press conference with European Commission President Ursula von der Leyen.  With this, von der Leyen, who was accompanied by the EU College of Commissioners, concluded her two-day visit to New Delhi. 

The two leaders, at the meeting, also agreed to make strong efforts to take forward the India-Middle East-Europe Economic Corridor initiative, Modi said. India and the EU have decided to strengthen investment framework and take steps for investment protection, he added.  

For Europe, India is a pillar of certainty in an increasingly uncertain world, von der Leyen said after the meeting. She also reiterated the EU's intent to conclude the negotiations for the free trade agreement on priority.