International relations are necessary for every nation to maintain their identity globally. Nations are the primary actors on the international platform. The relation between India and European Union dates back to the 1960s. With the (then) EEC, India established diplomatic relations and was one of the first to do so. In the 1994, both the EU and India signed a cooperation agreement which took bilateral relations beyond only trade. They have also signed the Joint Political Statement in 1993 which opened a way for a broad political dialogue. From that time dialogues have been held at regular intervals. In June 2000, the first summit in Lisbon was held which made a watershed in the relations between India and EU. They made a decision to hold annual summits. So far there have been 5 summits. The 5th summit was held at The Hague and it endorsed the EU’s proposal to upgrade its relationship with India to a ‘Strategic’ relationship which made it the landmark Summit. The relations between the both have evolved from what used to be mere trade and economic relations and covers overall area of interactions now. The EU has strategic partnership with five nations; Russia, USA, Canada, Japan and China. This was a great opportunity for India that they see it as a ‘regional and global leader’. India has empowered its position to someone engaging increasingly with the world powers on equal terms. Since the 2000, the relations between India and EU have developed exponentially.
The EU (as a coalition of 25 countries) is India’s biggest fare goal and has a portion of more than 24 percent in her complete fares. In the year 2003, India was nineteenth biggest exporter to EU and involved a portion of 1.35 percent in the complete EU imports. Then again, India was sixteenth biggest shipper of EU’s items and had a portion of 1.46 percent in EU’s worldwide fares. India’s fares to EU in 2003 were Euros 13.30 billion and imports were worth Euros 14.20 bn. The EU is probably the biggest wellspring of FDI for India. Be that as it may, the current degree of FDI from the EU is far beneath potential. Taking the period from 1991 to 2003, the all out FDI endorsements for EU-15 have around been $15 billion. The real total inflows are anyway around 6.2 billion Euros (US$ 5.6 billion), according to Eurostat Data. The most significant nations in the EU for FDI are UK, Germany, and Netherlands followed by France, Italy and Belgium. The fifth India-EU Summit was held in The Hague on eighth November 2004, under the Dutch Presidency of the European Union. PM drove the Indian designation, which included the External Affairs Minister Natwar Singh, Commerce and Industry Minister Kamal Nath and afterward National Security Advisor Late JN Dixit. The EU side was going by Dutch Prime Minister Jan-Peter Balkenende, in his ability as President-in-Office of the European Council, and included Mr Romano Prodi, at that point President of the European Commission, Mr Javier Solana, the EU High Representative for Common Foreign and Security Policy, and Mr Pascal Lamy, at that point European Commissioner for Trade. This Summit spoke to a milestone in India-EU relations, taking into account the starting of the India-EU Strategic Partnership. A complete Communication was introduced by the European Commission in June 2004. India had presented a starter however point by point Response to the EC paper in August 2004, where it had invited the positive direction of the EC paper and a few of the recommendations it contained, notwithstanding proposing some new activities of our own. To convey advance and increase relations in different zones based on these archives, the EU and India are as of now working with setting up a Joint Action Plan. This Joint Action Plan will be supported at the sixth India-EU Summit in New Delhi one year from now, as a Joint Political Declaration.
As previously, a Joint Press Statement was embraced at the finish of the Summit, mirroring our common discernments on different issues of shared concern. The Joint Declaration on Cultural Cooperation, attached to the Joint Press Statement, gives an expansive system to improved participation in culture, including trades of researchers and understudies just as procedures and skill in protection and rebuilding of show-stoppers and landmarks. At the Summit, it was consented to fortify the discourse on demobilization and limitation, upgrade discussions on UN changes, and escalate joint endeavors to battle psychological oppression and to increment Parliamentary and common society cooperation between the different sides. The EU side recognized India’s job in tending to emergency circumstances in its neighborhood and invited India’s assurance to take forward the discourse with Pakistan. It was likewise consented to address gives that would assist upgrade with exchanging and venture relations. Two proposition of unique intrigue were the choice to set up an Energy Panel to examine collaboration in vitality matters and an Environment Forum, which would incorporate business and common society agents, to talk about condition issues and opportunities for participation. It was likewise consented to proceed with dealings with the EU side to consent to the Framework Arrangement to formalize India’s support in the Galileo satellite route venture. India repeated its craving to take part in the International Thermonuclear Experimental Reactor (ITER) Project for producing vitality from atomic combination. PM likewise had an intuitive meeting with the ‘India-EU Business Round Table’ – a select gathering of Indian and European CEOs. This was another activity, which demonstrated the shared enthusiasm for upgrading exchange and speculation.
At long last, as India hopes to support local capacities and fortify its economy, it can’t bear to disregard the Free Trade Agreement (FTA) with Europe which is grieving after numerous rounds of bombed exchanges. The EU is India’s biggest exchanging accomplice and the second-biggest goal for Indian fares. As Europe hopes to differentiate gracefully chains and move away from China, India shouldn’t pass up on the chance to pull in speculations and extend its relationship with the world’s biggest exchanging alliance, which has just arranged FTAs with Vietnam, Japan and Singapore. Europe doesn’t confront a regional danger from China, and the push and pull of European strategy towards China will proceed. Flawed arrangement on China shouldn’t restrain Europe-India collaboration. Europe has definitively moved away from a China strategy dependent on financial commitment to checking Chinese impact locally and universally, with the instruments Brussels knows best — financial aspects, innovation, and discretion. India needs to reexamine what it needs its organization with Europe to look like and yield. Europe can be a far-fetched however helpful accomplice as India manages the China challenge.