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'Derisk World Economy Together': Jaishankar Tells European Envoys Ahead Of India-EU Summit

India and the EU are scheduled to hold a leaders' summit in New Delhi next week and sign a long-awaited free trade deal.

'Derisk World Economy Together': Jaishankar Tells European Envoys Ahead Of India-EU Summit
S Jaishankar on Thursday met ambassadors from the European Union countries.
Photo source: Jaishankar/ X

External Affairs Minister S Jaishankar on Thursday met ambassadors from the European Union countries and called for collaboration to "derisk the world economy" in the face of erratic US policies. India and the EU are scheduled to hold a leaders' summit in New Delhi next week and sign a long-awaited free trade deal.

"Pleased to interact with the Ambassadors from EU countries today. Spoke to them about the current state of the world with volatility and instability as the new normal," Jaishankar said in a post on X.

He said stronger India-EU ties will derisk the world economy by cooperating on resilient supply chains, reassure the international community by providing public goods like HADR, anti-piracy operations, and development projects, and stabilise the global order through stronger trade, mobility and security partnership.

ALSO READ: EU, India To Strengthen Ties With New Security And Defence Partnership

European Council President Antonio Costa and European Commission President Ursula von der Leyen will attend the Republic Day celebrations on Jan. 26, followed by the summit and the signing of the trade deal.

Both sides have been at the receiving end of US president Donald Trump's aggressive trade policies. India faces the highest tariff rate of 50% on its exports to the US, while the EU is yet to ratify a trade deal with Washington widely criticised for being lopsided.

The EU's top diplomat Kaja Kallas has called India "indispensable"to Europe's economic and strategic future. The 27-nation bloc has moved forward with a new security and defence partnership with India.

In a post on X, Kallas said, "Europe is ready to deliver on a powerful new agenda with India.  Today, the EU agreed to move forward with the signature of a new Security and Defence Partnership.  It will expand our cooperation in areas such as maritime security, counterterrorism and cyber-defence. I look forward to signing it next week during the EU-India Summit in New Delhi."

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