As part of his European tour, Indian Prime Minister Narendra Modi visited Gothenburg, Sweden, where he met with his counterpart Ulf Kristersson, European Commission President Ursula von der Leyen, and representatives of European and Indian businesses.
The Indian Prime Minister arrived in Sweden on Sunday. This is the second stop on Narendra Modi’s European tour, which also includes the Netherlands, Norway, and Italy.
In Gothenburg, Modi met with his Swedish counterpart Ulf Kristersson and European Commission President Ursula von der Leyen. All three attended a meeting of the European Round Table of Industrialists, where they interacted with representatives of European and Indian businesses.
“This will deepen investment ties between India and Europe,” Modi wrote on social media ahead of the event.
Von der Leyen reaffirmed her commitment to the EU-India trade agreement, dubbed the “mother of all deals,” which the parties signed in New Delhi in January and expect to finalize by the end of the year.
Representing a market of nearly 2 billion people and accounting for a quarter of global GDP, the agreement promises to be the largest trade pact in history for both sides. This comes in the context of the growing impact of geopolitical tensions on global trade.
Under the deal, India will eliminate or reduce tariffs on 96.6% of EU goods, while the bloc itself will eliminate or reduce tariffs on 99.5% of Indian goods.
“But trade is only half the equation,” von der Leyen said on Sunday, adding, “The next step must be an investment agreement. This is the missing piece of the puzzle in our strengthening economic cooperation,” she added. “Overall, this dynamic new era in EU-India relations offers historic opportunities, and we are determined to seize them,” von der Leyen concluded.
Modi and Kristersson also discussed strengthening bilateral ties in the areas of “trade, investment, innovation, defense, and many others.”
The Indian prime minister’s meeting with Dutch Prime Minister Rob Jetten on Saturday resulted in the signing of a strategic partnership agreement aimed at expanding Indian-Dutch cooperation in trade, technology, and energy.
Modi will then travel to Oslo for the third India-Nordic Summit, where he is scheduled to meet with the leaders of Norway, Sweden, Denmark, Finland, and Iceland.
According to the Indian Ministry of External Affairs, the talks will focus on cooperation between the countries in technology, renewable energy, defense, space exploration, and the Arctic region.
Modi’s tour will conclude in Italy on May 20 with a meeting with Italian Prime Minister Giorgia Meloni.
In 2024, Modi and Meloni agreed on a “Joint Strategic Action Plan” to expand cooperation on security and defense issues and promote “safe and legal channels for migration.”
