India-EU Strategic Partnership Can Stabilize Global Economy Amid Uncertainty: Jaishankar
External Affairs Minister S. Jaishankar emphasized on Thursday that a strengthened relationship between India and the European Union has the potential to de-risk the world economy during a period of significant global volatility. The minister made these remarks during a crucial meeting with ambassadors from all 27 EU member states in New Delhi, led by EU Ambassador to India Herve Delphin.
High-Level Diplomatic Engagement Ahead of Republic Day Summit
This significant diplomatic interaction comes just days before the highly anticipated India-EU leaders' summit and the state visit of European leaders to India for the 77th Republic Day celebrations. President of the European Council Antonio Costa and President of the European Commission Ursula von der Leyen are scheduled to visit India from January 25 to 27, where they will serve as chief guests for Republic Day festivities and hold summit talks with Prime Minister Narendra Modi on January 27.
Jaishankar posted on social media platform X following the meeting: "Spoke to them about the current state of the world with volatility and instability as the new normal." The minister elaborated that a more robust India-EU relationship could help stabilize the global order through enhanced trade partnerships, improved mobility frameworks, and stronger security cooperation.
Addressing Global Challenges Through Strategic Cooperation
The External Affairs Minister specifically highlighted the urgent need for bilateral cooperation to ensure resilient supply chains, a critical concern for both economies in the current geopolitical climate. This meeting gains particular significance as the United States administration under President Donald Trump is perceived by New Delhi as increasingly unpredictable, making stable partnerships with other major economic blocs more crucial than ever.
EU Ambassador Herve Delphin described the exchange with Jaishankar as "excellent" and noted the "high convergence of interests & the strategic value of our growing EU/bilateral partnerships with India." He further emphasized that the benefits of this relationship are both mutual and global, with all attention now focused on the upcoming EU-India Summit and its potential deliverables.
Historical Context and Future Prospects
India and the European Union have maintained a strategic partnership since 2004, with the relationship gaining increasing importance as India continues its remarkable economic trajectory. As the world's largest democracy and fastest-growing major economy, India represents a crucial partner for the EU. With over one billion people of working age and a median age of just 31, India is projected to become the world's third-largest economy by 2030.
The country has transformed into a rapidly expanding manufacturing and technology hub, currently hosting 45% of global capability centers while making substantial investments in frontier technologies. Building on more than 30 years of EU-India cooperation and two decades of Strategic Partnership, both sides are now working diligently to elevate their relationship to new heights.
Navigating Diplomatic Challenges
Despite the positive momentum, the relationship has faced challenges, particularly regarding differing perspectives on the Russia-Ukraine conflict. These differences have created some mistrust among European countries, with India consistently explaining its historical relationship with Russia that dates back to the Soviet Union era. Both sides recognize the need to navigate these diplomatic complexities while focusing on shared economic and strategic interests.
As the world economy faces unprecedented challenges from geopolitical tensions, supply chain disruptions, and economic uncertainty, the strengthening of India-EU ties represents a potentially stabilizing force that could benefit not just the two partners but the entire global economic system.
