Prime Minister Narendra Modi on Wednesday said that India-European Union partnership can play an important role in "economic reconstruction" as new problems have emerged globally after the COVID-19 pandemic.
Addressing the 15th India-EU summit, he said there is a need for more cooperation among democratic nations to deal with economic problems.
"After COVID-19, new economic problems emerged globally. For this, we feel the need for more cooperation among democratic nations. Today, both the health and prosperity of our citizens are facing challenges. There are different types of pressures on the rules-based international order. Thus, the India-EU partnership can play an important role in economic reconstruction, and in building human-centric and human-centric globalisation," he said.
Apart from the current challenges, the Prime Minister said that long-term challenges like climate change are also a priority for both India and the EU.
"In our efforts to increase the use of renewable energy in India, we invite investment and technology from Europe. I hope that through this virtual summit our relations will gain momentum," he said.
Terming India and the European Union "natural partners," Prime Minister Modi called for creating an action-oriented agenda to foster the partnership and said he is committed to making relations "deep and comprehensive"
"Due to COVID-19, we had to postpone India-EU summit. It is good that we are able to come together today through a virtual medium. Like you, I am also committed to making our relations deep and comprehensive," the Prime Minister said.
"For this, we must adopt a long-term strategic perspective. Along with this, an action-oriented agenda should be created, which can be implemented within the stipulated time frame. India and the EU are natural partners. Our partnership is also useful for peace and stability in the world. This reality has become even more evident in today's global situation," he added.
The Prime Minister said that India and EU both share universal values like democracy, pluralism, inclusivity, respect for international institutions, multilateralism, freedom and transparency.
The EU is represented at the summit by European Council President Charles Michel and European Commission President Ursula von der Leyen.
The summit was scheduled to happen earlier this year but was postponed due to coronavirus pandemic and is being held virtually.
( With inputs from ANI )