New Delhi [India], October 10 (ANI): European Union Ambassador to India Jean-Eric Paquet stated the India-EU Free Trade Agreement (FTA) can be “an absolute game changer for India and Europe”, highlighting its potential to strengthen commerce, funding and provide chains alongside deeper cooperation in defence and financial safety.
Addressing the Annual Session and Champion Awards 2026 of the Society of Indian Defence Manufacturers (SIDM) in New Delhi on Friday, Paquet stated India and the European Union aimed to conclude the FTA by the tip of 2026 and convey it into power in 2027.
“What lies ahead is the signing of the Free Trade Agreement. In principle, we aim to conclude the FTA by the end of this year and intend to bring it into force in the course of 2027. This is an absolute game changer for India and Europe,” he stated.
Paquet stated he hoped the FTA can be accompanied by an Investment Protection Agreement, which is at the moment below negotiation, including that the 2 agreements might create a typical financial house between India and Europe.
“Together, the FTA, the mother of all these initiatives and the Investment Protection Agreement would create a single economic space spanning India and Europe. Within this space, we could trade more freely, strengthen supply chains through trade and investment, make them more resilient and reduce strategic dependencies,” he stated.
He added that India and Europe might additionally develop applied sciences collectively and cooperate on financial safety and strategic chokepoints, guaranteeing that “India’s sovereignty and Europe’s strategic autonomy reinforce one another.”
Highlighting the relevance of those agreements to the defence sector, Paquet stated, “The work we undertake to facilitate and strengthen our supply chains through the FTA and the Investment Protection Agreement would also greatly benefit our respective defence industries.”
The EU Ambassador additionally highlighted the India-EU Security and Defence Partnership, saying Prime Minister Narendra Modi and European leaders had recognised the necessity to broaden cooperation past commerce and financial ties amid the present geopolitical surroundings.
“In addition, Prime Minister Modi and European leaders have recognised that trade and economic cooperation are essential, but that our partnership needs to go further in today’s challenging geopolitical environment. We have therefore also entered into a Security and Defence Partnership. I believe this was a remarkable step taken in January,” he stated.
Paquet stated the partnership offers a framework for deeper safety and defence dialogue on the ministerial degree and presents one other platform for Indian and European defence industries to strengthen their engagement.
“India purchases European defence equipment, and several EU member states have long-standing historical traditions of military and defence-industrial cooperation with India. Others are now beginning to develop such relationships, and we are seeing an increasing number of examples of European defence industries and member-state organisations engaging with Indian counterparts very productively,” he stated.
Paquet additionally highlighted Europe’s efforts to handle its defence functionality gaps by 2030 amid the continuing Russia-Ukraine battle, noting that European leaders had dedicated to mobilising 800 billion euros for the trouble.
“Russia’s war of aggression against Ukraine is a major security challenge for Europe, extending beyond the conflict in Ukraine itself. Civilians continue to be killed every day by Russian strikes. Against this backdrop, European leaders decided last year that it was necessary to address Europe’s capability gaps by 2030. They committed to mobilising 800 billion to help close these gaps,” he stated.
He stated the size of Europe’s defence funding was putting vital calls for on its defence trade, which was additionally supporting Ukraine and supplying tools to European militaries.
“In this context, we need partners. I believe that is the key message I want to convey today. That is what the Security and Defence Partnership with India is about,” Paquet stated, calling India an essential accomplice in Europe’s safety efforts.
On the broader geopolitical surroundings, Paquet stated safety in Europe and the Indo-Pacific couldn’t be considered individually, pointing to Russia’s partnerships with North Korea for example of the hyperlinks between the 2 areas.
“I think it is very clear and I saw this during my tenure in Japan that security in the Indo-Pacific is closely linked to security in Europe, and vice versa. It is very difficult to separate the two security theatres,” he stated.
Turning to maritime safety, Paquet stated India and the European Union shared a imaginative and prescient of upholding freedom of navigation, with the United Nations Convention on the Law of the Sea (UNCLOS) serving as an essential framework for cooperation.
He stated disruptions within the Red Sea had demonstrated the affect of maritime insecurity on societies, economies and safety, including that each side had been discussing methods to enhance coordination between their naval operations.
“We are now discussing ways to facilitate interactions between the Indian Navy and European operations, beginning with Operation Atalanta. I very much hope that, in the coming weeks, we will reach an administrative arrangement that facilitates interactions at sea between ships,” he stated.
Paquet added that the opportunity of increasing cooperation to joint patrolling would require additional discussions, however stated such coordination might present vital added worth.
He additionally referred to as for nearer sharing of maritime area consciousness knowledge between India and Europe, stressing the necessity for his or her respective techniques to speak extra successfully.
“I believe these systems need to communicate with one another much more effectively. That is another area in which we could make progress in the relatively short term,” he stated. (ANI)