Vigenin: EU and India can build a more sustainable and competitive economy together

“The upcoming EU-India Summit is an important opportunity to strengthen a partnership that matters for Europe’s economic future.”This said the Bulgarian MEP of the Group of the Progressive Alliance of Socialists and Democrats in the European Parliament Kristian Vigenin in Strasbourg on the occasion preparations for the next EU-India summit.

In his speech, Vigenin stressed India’s strategic role as a global partner of the EU: “India is not only one of the fastest growing economies in the world, but also a partner with whom Europe can build a more sustainable, innovative and competitive global economy.”

Trade and key areas of partnership

The MEP stressed the importance of trade relations between the two countries. “A structured trade agreement can help diversify supply chains, reduce dependencies and strengthen Europe’s industrial base.”, he pointed out. However, he said, such an agreement must be assessed not only strategically but also in terms of its real economic impact: “Above all, it must bring real economic value, especially to sectors that create quality jobs.”

Among the key areas for deepening the partnership, Vigenin highlighted artificial intelligence and advanced technologies, medicines and life sciences, stressing that Europe and India have complementary strengths in research, skills and innovation. “Closer cooperation can boost productivity and ensure that technological progress also translates into social progress”, he added.

In conclusion, Kristian Vigenin recalled the long-term nature of EU-India relations, saying, “As strategic partners for more than 20 years, the European Union and India share the responsibility to support peace, stability and a rules-based international order through dialogue and multilateral cooperation.”