India and European Union on Friday discussed issues relating to cyber security and maritime threats during the 5th round of Foreign and Security Policy Consultations. India strongly condemned the recent terror attacks in Barcelona, and the two sides called for enhancing cooperation to combat terrorism in all its forms and manifestations.
During the meeting, led by Ruchi Ghanashyam, Secretary (West), from the Indian side and Jean-Christophe Belliard, Deputy Secretary-General for Political Affairs, European External Action Service, the two sides reviewed the entire gamut of India-EU Strategic Partnership and discussed ways to further deepen cooperation in political, economic and security areas.
The two sides also exchanged views on regional and global issues of mutual interest and reiterated their respective commitments to promoting and protecting a rules-based international order. During discussions on the economic cooperation it was agreed that there was need for greater investment and trade flows between India and the EU.
The EU is one of India's largest trading partners with bilateral trade in goods standing at $85 billion in 2016. The EU is also the largest destination for Indian exports and a key source of investment and cutting edge technologies. India received around $80 billion Foreign Direct Investment (FDI) flows from Europe during 2000-16 constituting approximately 25 per cent of the total FDI inflows into the country during the period.
Ghanashyam welcomed the establishment of European Investment Bank in India, saying that its investment especially in urban mobility and renewable energy projects would support India-EU collaboration in the Smart City sector. She also appreciated the ongoing participation of EU and its companies in Make In India, Digital India, Start-up India, Swachh Bharat and Namami Gange programmes.
The European side highlighted the ongoing work in India-EU water partnership. Noting that over 50,000 Indian students were presently studying in various Universities in Europe, Belliard expressed the EU's desire to make its scholarship programmes such as ERAMUS even more popular in the country. The talks also focussed on deepening collaborations in research and technology partnership.
Both sides concurred that the International Solar Alliance presented new opportunities to further strengthen India-EU clean energy and climate partnership. The EU expressed its desire to support initiatives of ISA including through the European Investment Bank. They also expressed their interest to leverage the ISA platform in collaboration with India for developing renewable energy capacities in solar rich countries.