Jaishankar: India-EU ties now more crucial than ever

External Affairs Minister Subrahmanyam Jaishankar highlighted the growing importance of India-EU relations, especially in today’s uncertain global landscape. Speaking at the IIC-Bruegel Annual Seminar in Delhi, Jaishankar emphasized that stronger ties between India and the European Union could provide much-needed stability amid global volatility.

He noted that Europe’s growing strategic awareness in recent years has paved the way for deeper engagement. This, Jaishankar believes, can drive closer cooperation in areas such as defense, security, and technology.

Jaishankar stressed that India has been keenly aware of Europe’s increased focus on global matters, recognizing it as an opportunity to strengthen bilateral ties. He underscored that this intensified engagement has already been visible in sectors like defense and technology. According to Jaishankar, the India-EU partnership has become more significant than ever before, especially as both regions seek to navigate an unpredictable global environment.

The minister also pointed out that India and the EU are two of the largest economies in the world, with significant synergies and vast trade opportunities. India is the EU’s ninth-largest trading partner, while the EU stands as India’s largest trading partner. As of 2023, the total value of EU-India trade in goods reached EUR 113.3 billion.

The EU remains the main export destination for Indian goods, with exports totaling EUR 64.9 billion. In contrast, India imports EUR 48.4 billion worth of goods from the EU, giving India a trade surplus of EUR 16.5 billion in goods.

Some of the primary EU exports to India include machinery, mechanical appliances, and aircraft parts, while India’s major exports to the EU are machinery, transport equipment, and chemicals. This exchange underscores the growing economic ties between the two regions.

Jaishankar concluded by reaffirming that the evolving relationship between India and the EU will be essential in maintaining global stability and fostering mutual growth. As both regions continue to face complex geopolitical challenges, the India-EU relationship will be key in ensuring cooperation and progress on various fronts.