India and the European Union vow to renew trade talks

Theresa May in India

Juncker is on the three-day official visit to India for the 14th India-EU Summit.

The EU is India's largest regional trading partner with bilateral trade in goods at U.S. 88 billion in 2016.

"I believe today's summit has given a fresh impetus to our negotiations and I am confident our negotiations will establish the way forward in next coming days because your Trade Minister and my Trade Commissioners are meeting few days from now", he said while addressing India European Union Business Forum here.

India and the European Union also expressed support to the government and the people of Afghanistan in their efforts to achieve an Afghan-led and Afghan-owned national peace and reconciliation. He also stressed on high standards of data protection since Indian IT companies offer their services to companies from the EU.

On his part, Tusk said both sides adopted a joint declaration on counter-terrorism "to deal effectively with the threat posed by foreign terrorist fighters, terror financing and arms supply".

New Delhi-European Union and India are holding talks on the key issues including ways to remove hurdles for the long-pending free trade agreement. Both the sides also agreed on cooperation on global and regional issues.

"Today, we have reviewed the progress in implementation of the decisions taken at our last Summit, and the Agenda 2020 announced previous year.", said PM Modi.

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A Broad-based Trade and Investment Agreement (BTIA) between India and the European Union has been hanging fire for 11 years now despite 16 rounds of negotiations. He further said, "Indian companies have specialised in offering back office and IT services to European companies".

He asserted that data protection was a precondition for exchanging personal data freely and fully. AIR correspondent reports India-EU Business Event will also be organized, on the sidelines of the Summit. "India-EU should work together on data protection".

"We have also agreed to cooperate in security in the Indian Ocean region and beyond".

India has received foreign direct investment of around $83 billion between 2000 and 2017 from Europe, which is 24 percent of total Foreign Direct Investment in the country during that period.

The two sides have been strategic partners since 2004 and held the 13th India-EU summit in Brussels previous year during Prime Minister Modi's visit to Europe.

Talking about data protection, Juncker said "Indian companies providing IT services to many European companies, numerous services they provide involve exchange of personal data, the black gold of 21st century".

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