Prime Minister Narendra Modi addressed the India-European Union Business Forum at Bharat Mandapam. Regarding the trade deal, PM Modi said that this is the sound of a new era in India-European Union relations. During this, PM Modi strongly criticized the policies of US President Donald Trump. PM Modi said that today trade, technology and rare earth minerals are being used like weapons in the world. Donald Trump’s tariff policies are not only disrupting global trade but also creating a new global order.
Donald Trump is currently threatening to capture Greenland under any circumstances, due to which the distance between America and European countries has increased. Trump has his eyes on the rare earth minerals present in Greenland. From Davos, all the European countries together gave a befitting reply to Trump’s tariff threat. In response to Trump’s threat to impose 10 percent tariffs, Europe had threatened to use ‘trade bazooka’.
PM Modi said, ‘For the first time, the leaders of the European Union, their participation as chief guests at India’s Republic Day celebrations, the largest FTA in history being concluded between the two and today the India-European Union Business Forum being organized at such a large level with so many CEOs… all these achievements are a symbol of the unprecedented alignment taking place between the two largest democratic powers of the world.’
PM Modi said, ‘Indian investment in the European Union has reached about 40 billion euros. There is deep cooperation between Indian and European companies in every field including research and development (R&D), manufacturing, service. We are building some of the most impactful partnerships in the world, and the results are clearly visible. Our trade has doubled in the last 10 years to reach 180 billion euros. More than 6 thousand European companies are working in India.
PM Modi said, ‘From green hydrogen to solar energy… we should increase joint research and investment in every field. Along with this, solutions should be jointly developed in every field like water management, circular economy and sustainable agriculture.
PM Modi said, ‘I am confident that all of you will take full advantage of the Free Trade Agreement (FTA). Today trade, technology and rare minerals are being used as weapons all over the world. Can our business communities work together to reduce external dependence in sectors such as electric vehicles, batteries and chips? “Together can we build a reliable and trustworthy alternative supply chain?”
