Addressing leaders and business stakeholders in Gothenburg, Sweden, Prime Minister Narendra Modi said India and Europe are entering a “new turning point” in bilateral relations with consensus emerging on the India-EU Free Trade Agreement. PM Modi highlighted India’s rapid economic growth, expanding infrastructure, and reform-driven governance under the mantra of “Reform, Perform and Transform.” He also showcased India’s position as the world’s third-largest startup ecosystem, with major advances in artificial intelligence, fintech, drones, mobility, and space technology. Stressing the need for stronger global partnerships amid supply chain disruptions and geopolitical uncertainty, PM Modi invited European nations and investors to join India’s development journey and deepen strategic cooperation in trade, security, defence, energy, and sustainability.
Key Highlights from PM Modi’s Address
During his speech, the Prime Minister emphasized that India and Europe are at a crucial juncture in their relationship. He noted that the consensus on the India-EU Free Trade Agreement marks a significant step forward. The agreement is expected to boost bilateral trade and investment, benefiting both economies.
India’s Economic Growth and Reforms
PM Modi outlined India’s impressive economic trajectory, citing consistent growth rates and infrastructure expansion. He credited the government’s reform-driven approach, encapsulated in the mantra “Reform, Perform and Transform,” for creating a conducive environment for business and innovation.
Startup Ecosystem and Technological Advances
India now boasts the world’s third-largest startup ecosystem, with over 100 unicorns. The Prime Minister highlighted breakthroughs in artificial intelligence, fintech, drones, mobility, and space technology, positioning India as a hub for cutting-edge innovation.
Global Partnerships Amid Uncertainty
In the face of supply chain disruptions and geopolitical tensions, PM Modi called for stronger global partnerships. He urged European nations to collaborate with India in areas such as trade, security, defence, energy, and sustainability, emphasizing mutual benefits.
Invitation to European Investors
The Prime Minister extended a warm invitation to European businesses and investors to participate in India’s growth story. He assured them of a stable policy environment, a large market, and a skilled workforce. The India-EU FTA is expected to further ease market access and reduce trade barriers.
Strategic Cooperation Areas
PM Modi identified several key sectors for cooperation: trade, security, defence, energy, and sustainability. He stressed that India and Europe share common values and interests, making them natural partners in navigating global challenges.
The visit to Sweden underscores India’s commitment to deepening ties with Europe. The proposed FTA and enhanced strategic cooperation are set to usher in a new era of bilateral relations, benefiting both regions.
