Context

• The 15th Summit between India and the European Union (EU) was held in virtual format.

Key Takeaways:

The leaders decided to strengthen the India-EU Strategic Partnership, based on

• shared principles and values of democracy, freedom, rule of law, and respect for human rights, aiming at delivering concrete benefits for the people in India and the EU.
• bolster their cooperation in international fora to reinforce international security, strengthen preparedness and response for global health emergencies, enhance global economic stability and inclusive growth, implement the Sustainable Development Goals and protect the climate and the environment.
• EU is looking forward to India’s G20 Presidency in 2022 and its membership in the UN Security Council in 2021-2022.
• the leaders agreed that global cooperation and solidarity are essential to protect lives and to mitigate the socio-economic consequences of the pandemic.
• noted mutual synergies in the field of healthcare through shared capacities, experiences and strengths in the production of pharmaceuticals and vaccines, healthcare research and development, diagnostics and treatment.
• develop their trade and investment relations to unleash their full potential particularly in the context of post-COVID-19 economic recovery and support sustainable growth and jobs on both sides.
• Resolute and coordinated action is key to tackle the generational challenge of climate change and environmental degradation.
• enhance their partnership in support of sustainable modernisation. They will boost cooperation to support clean energy transition, resource efficiency and circular economy, and the necessary technological leaps, while opening new business opportunities. The leaders welcomed the continued fusion research cooperation within the ITER project.
• ways to harness human-centric digitalisation to develop inclusive economies and societies.
• promote a transparent, viable, inclusive, sustainable, comprehensive, and rules-based approach to connectivity to ensure that projects are environmentally, socially and fiscally sustainable and provide a level playing field for businesses
• reaffirmed their strong commitment to global peace and security, disarmament and non-proliferation and to combat terrorism in all its forms and manifestations, including its financing and countering radicalization. India and the EU will intensify exchanges and cooperation in this regard.
• reiterated their commitment to human rights, including gender equality and women empowerment in all spheres of life, and the importance they attach to their cooperation.
• active people-to-people exchanges including among students, researchers, professionals, business persons & tourists as part of the implementation of the Joint Declaration on Common Agenda on Migration and Mobility (CAMM).
• welcomed the signing of the India-EURATOM Agreement on research and development cooperation in the peaceful uses of nuclear energy. They also adopted a Joint Declaration on Resource Efficiency and Circular Economy and welcomed the upcoming renewal of the India-EU Science and Technology Agreement for another five years. They agreed to reconvene for the 16th India –EU Summit in 2021.

Key Facts on EU:

• The EU as a wholewas India’s largest trading partner while India was EU’s 9^th largest trading partner in 
• India is also the fourth largest service exporterto the EU and the sixth largest destination for service exports from the EU.
• EU is the largest source of Foreign Direct Investment (FDI)into India.
• India and the EU are in the process of negotiating a bilateral Broad-based Trade and Investment Agreement (BTIA) since 2007.