New Delhi, May 10 (KNN) External Affairs Minister S Jaishankar highlighted the promising prospects of the ongoing India-EU Free Trade Agreement (FTA) negotiations and the recently launched Trade and Technology Council (TTC) partnership in strengthening the economic ties between India and the European Union.

Speaking at the EU National Day celebrations in New Delhi on Thursday, Jaishankar emphasised India's keen interest in taking forward the India-Middle East-Europe Economic Corridor (IMEEC), an initiative agreed upon last year, which aims to bolster the economic corridor connecting the three regions.

Jaishankar underscored the multifaceted and deep relationship between India and the EU, spanning various domains beyond just economic cooperation.

He noted that the EU is India's largest economic partner, and the ongoing negotiations for an FTA and the partnership in the TTC signify the growing intensity of economic exchange between the two sides.

The minister highlighted that the economic relationship is a crucial element of the burgeoning ties between India and the EU, with trade numbers reflecting the intensity of the partnership.

He expressed optimism about the promise held by the ongoing FTA negotiations and the TTC partnership, which underlines the significance of not just the present relationship but also its future potential.

“The European Union is our largest economic partner. But it is more than that. It is an entity with which we have a very deep relationship spanning many domains,” Jaishankar stated.

Jaishankar acknowledged the EU's contribution to the IMEEC initiative and India's commitment to taking it forward.

He also welcomed the growing interest shown by the EU and individual European states in the Indo-Pacific region, aligning with India's approach to the region.

EU Ambassador to India Herve Delphin echoed the sentiment, stating that India has gained tremendous importance for the EU, and the partnership between the two is set to deepen further, especially in the current turbulent global environment.

(KNN Bureau)