During a joint press meet in the national capital on Tuesday, European Council President Antonio Costa highlighted his connection to India, saying, “I’m the President of the European Council, but I’m also an overseas Indian citizen. This has a special meaning for me. I’m very proud of my roots in Goa, where my father’s family is from, and the link between Europe and India is personal to me.”

He noted the conclusion of trade negotiations between the EU and India, recalling their relaunch during a summit he hosted in May 2021. Costa emphasized that the agreement sends a strong message globally: amid a shifting global order, the European Union and India are strategic and reliable partners. “Today, we are taking our partnership to the next level. As the world’s two largest democracies, we are working together to deliver tangible benefits for our citizens and to promote a resilient global order that supports peace, stability, economic growth, and sustainable development,” he said.

Costa underlined that EU-India cooperation is vital for shared prosperity and security, adding that trade acts as a geopolitical stabilizer and a driver of economic growth. He called the Free Trade Agreement (FTA) historically significant, reinforcing a rules-based economic order and promoting mutual prosperity.

Prime Minister Narendra Modi welcomed the conclusion of the India-EU FTA, describing it as “not just a trade agreement, but a blueprint for shared prosperity.” He highlighted the exponential growth in India-EU relations, rooted in democratic values, economic synergy, and strong people-to-people ties, noting that bilateral trade now stands at €180 billion. Modi emphasized expanding cooperation in areas such as strategic technology, clean energy, digital governance, and development, which will benefit all sections of society.

The FTA, India’s largest to date, is expected to create opportunities for farmers, small businesses, and service providers. In the presence of PM Modi, European Commission President Ursula von der Leyen, and European Council President Antonio Costa, India and the EU signed several agreements and MoUs. These include the ‘Towards 2030 – A Joint India-European Union Comprehensive Strategic Agenda,’ the India-EU Security and Defence Partnership, and agreements on mobility, disaster risk management, green hydrogen, and financial regulatory cooperation between the Reserve Bank of India and the European Securities and Markets Authority, among others.