Daijiworld Media Network - Gothenburg
Gothenburg, May 18: Ursula von der Leyen on Sunday highlighted the possibility of a major investment agreement between India and the European Union while addressing a joint press conference in Gothenburg, Sweden.
The European Commission President appeared alongside Narendra Modi and Ulf Kristersson during the event organised at the European Round Table for Industry.
Referring to the recently concluded India-EU Free Trade Agreement (FTA), von der Leyen described the deal as a landmark moment in bilateral relations and famously termed it the “mother of all deals.”
She said the agreement is designed to provide businesses with the clarity and support needed to immediately benefit from expanded trade opportunities. However, she stressed that trade cooperation alone was not enough and indicated that both sides are now working toward a broader investment agreement.
According to von der Leyen, such an agreement would serve as the missing link in strengthening economic ties between India and the EU, especially at a time when global supply chains are undergoing major changes and economic security concerns are becoming increasingly significant.
She remarked that while the trade agreement had opened the door for stronger cooperation, an investment pact would help both sides fully realise the partnership’s potential.
Responding to her remarks on social media platform X, Prime Minister Modi said he was delighted to meet the EU chief in Gothenburg and agreed that India-Europe relations hold immense promise, particularly following the conclusion of the India-EU FTA.
In another message posted on X, von der Leyen said the agreement would usher in a new phase in India-EU relations and added that efforts were underway to implement the pact within the year so that businesses and citizens could begin benefiting from it quickly.
She also pointed out that the agreement would encourage deeper bilateral engagement between India and EU member nations such as Sweden, expressing hope that other countries would follow Sweden’s example in expanding cooperation with India.
Highlighting broader strategic developments, the EU chief noted that alongside the trade pact, India and the EU had also strengthened cooperation in areas such as security and defence. She referred to the first India-EU security and defence dialogue held in New Delhi and announced plans for joint naval exercises focused on maritime security.
Von der Leyen described the India-EU partnership as a massive economic opportunity, noting that the combined market represents more than two billion people and nearly one-fourth of global GDP. She added that the agreement’s significant tariff reductions are expected to further accelerate trade and investment between the two sides.