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Business Standard
21 hours ago
- Business
- Business Standard
PM Modi, Croatia PM Andrej Plenkovic sign four key MoUs in Zagreb
Addressing a special press briefing on PM Modi's visit to Croatia, MEA Secretary (West) Tanmay Lal said that the key outcomes of the visit was signing of four MoUs on cooperation ANI Europe Prime Minister Narendra Modi's maiden visit to Croatia marks a significant milestone in the India-Croatia partnership. The visit, which took place amid global uncertainty, aimed to bolster cooperation in various sectors, including defense, trade, technology, and culture. Addressing a special press briefing on PM Modi's visit to Croatia, MEA Secretary (West) Tanmay Lal said that the key outcomes of the visit was signing of four MoUs on cooperation in agriculture and allied sectors, a program of cooperation in science and technology, a cultural exchange program and an MoU on Hindi Chair at University of Zagreb to promote Indian language and culture. "The two leaders then welcome the signing of four documents. These are MoUs on cooperation in agriculture and allied sectors, a program of cooperation in science and technology, a cultural exchange program and an MoU on Hindi Chair at University of Zagreb," said Lal. PM Modi and Croatian Prime Minister Andrej Plenkovic discussed ways to boost bilateral trade and supply chain resilience, with a focus on concluding the India-EU Free Trade Agreement (FTA) at an early date. "The leaders in their discussions also look forward to an early conclusion of the India-EU FTA, which will boost bilateral trade and supply chain resilience...," said MEA Secretary (West). The visit, which took place amid global uncertainty, aimed to bolster cooperation in various sectors, including defense, trade, technology, and culture. "...The visit takes place against the backdrop of serious global challenges and flux. The leaders discussed regional and global issues, including ongoing conflicts and other major developments. Cooperation in counter terrorism was a prominent topic of discussion," said Lal. The leaders emphasised the importance of cooperation in counter-terrorism, with PM Modi thanking Croatia for its support and solidarity in the wake of the terror attacks in Pahalgam. "Prime Minister Modi thanked Croatian Prime Minister Andrej Plenkovic for Croatia's support and solidarity in the wake of the terror attacks in Pahalgam....," said Lal. The leaders agreed to strengthen the India-Croatia Startup Bridge Initiative, promoting innovation and entrepreneurship. Building upon the MoU signed two years ago, the leaders agreed to explore increased collaboration in defense. They agreed to formulate a long-term Defense Cooperation Plan, focusing on training, military exchange, and defense industry collaboration. "The leaders agreed to strengthen the India-Croatia Startup Bridge Initiative. The leaders also agreed to explore increased collaboration in defence, building upon the MoU that was signed two years ago," said MEA Secretary (West). Croatia, a Mediterranean country located in the very heart of Europe, has become one of the most promising startup ecosystems in the Balkans. The India-Croatia startup bridge aims to leverage expansion opportunities and provide international market access to Indian startups looking to expand in Croatia as well as Croatian startups looking to expand in India. The India-Croatia Startup Bridge, initiated in 2021, and a collaborative Startup Challenge in 2022 have encouraged entrepreneurial cooperation in fields such as AI, green tech, and robotics. PM Modi's visit to Croatia marks a historic moment as it is the first-ever visit by an Indian Prime Minister to the Central European nation. His visit reflects India's growing ties with partners in Central and Eastern Europe, particularly in the context of the India-EU Strategic Partnership Speaking on the significance of the visit, Lal stated, "...This has been the first ever visit to Croatia by an Indian Prime visit reflects the growing momentum in the India-Croatia Partnership. It also has importance in the context of the India-EU Strategic Partnership and it shows India's growing ties with partners in Central and Eastern we speak. Prime Minister Modi is also meeting and holding discussions with the President of Croatia, Zoran Milanovic..." In a joint press statement with Croatia PM Andrej Plenkovic after their delegation-level talks, PM Modi said the two countries have emphasised joint research and collaboration between their academic institutions and India will share its space experience with Croatia. PM Modi reached Croatia earlier in the day in the last leg of his three-nation visit. "We have decided to speed up our bilateral relations three times in our third term. A Defence Cooperation Plan will be made for long-term cooperation in the defence sector, which will focus on training and military exchange as well as defence industry. There are many areas where our economies can complement each other. These areas have been identified," he said. "We have decided to increase cooperation in many areas to increase bilateral trade and create a reliable supply chain. We will promote cooperation in many important areas like pharma, agriculture, information technology, clean technology, digital technology, renewable energy," he added. The Prime Minister said there are also ample opportunities for Croatian companies in the port modernisation, coastal zone development and multi-modal connectivity being carried out under India's Sagarmala Project. "We have emphasised joint research and collaboration between our academic institutions and centres. India will share its space experience with Croatia. Our centuries-old cultural relations are the root of mutual affection and goodwill... Today, we have decided to give more strength to our cultural and people-to-people relations. The duration of the MoU of Hindi Chair in Zagreb University has been extended till 2030. A cultural exchange program has been prepared for the next five years. The mobility agreement will be completed soon to facilitate the movement of people," he said. PM Modi expressed his heartfelt gratitude to the Croatian Prime Minister and the Croatian government for the enthusiasm, warmth and affection with which he has been welcomed. "This is the first visit of any Indian Prime Minister to Croatia, and I have had the good fortune of it. India and Croatia are connected by common values like democracy, rule of law, pluralism and quality. It is a happy coincidence that last year the people of India have given me and the people of Croatia have given the opportunity to Croatian Prime Minister, Andrej Plenkovic to serve for the third consecutive time," he said.
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Business Standard
a day ago
- Business
- Business Standard
Our talks covered many sectors to strengthen India-Croatia ties: PM Modi
Following his meeting with the Croatian Prime Minister, PM Modi said the bilateral talks were comprehensive and spanned multiple sectors ANI Europe Prime Minister Narendra Modi on Wednesday shared highlights from his visit to Croatia, where he held discussions with his Croatian counterpart Prime Minister Andrej Plenkovic and received a ceremonial welcome in the capital city of Zagreb. Taking to social media platform X, PM Modi posted a series of updates on his engagements during the visit. He wrote, "Grateful to my friend, Prime Minister Andrej Plenkovic for the special gesture of showing me the city centre of the historical and culturally rich city of Zagreb." PM Modi also shared glimpses of the ceremonial reception accorded to him in Zagreb, saying, "Pictures from the ceremonial welcome in Zagreb, Croatia." Following his meeting with the Croatian Prime Minister, PM Modi said the bilateral talks were comprehensive and spanned multiple sectors. He posted, "Held productive talks with my friend, Prime Minister Andrej Plenkovic in Zagreb. Our talks covered many sectors, aimed at making the India-Croatia bond even stronger. We will be working closely in the fields of defence and security, pharmaceuticals, agriculture, IT, renewable energy, technology and more. Synergies in areas like semiconductors, shipbuilding, connectivity and more will also be greatly beneficial." Building on this, Prime Minister Narendra Modi said on Wednesday that India and Croatia will promote cooperation in several areas including pharmaceuticals, agriculture, and information technology. He added that a Defence Cooperation Plan will also be formulated for long-term collaboration in the defence sector. In a joint press statement with Croatia PM Andrej Plenkovic after their delegation-level talks, PM Modi said the two countries have emphasised joint research and collaboration between their academic institutions and India will share its space experience with Croatia. PM Modi reached Croatia earlier in the day in the last leg of his three-nation visit. "We have decided to speed up our bilateral relations three times in our third term. A Defence Cooperation Plan will be made for long-term cooperation in the defence sector, which will focus on training and military exchange as well as defence industry. There are many areas where our economies can complement each other. These areas have been identified," he said. "We have decided to increase cooperation in many areas to increase bilateral trade and create a reliable supply chain. We will promote cooperation in many important areas like pharma, agriculture, information technology, clean technology, digital technology, renewable energy," he added. The Prime Minister said there are also ample opportunities for Croatian companies in the port modernisation, coastal zone development and multi-modal connectivity being carried out under India's Sagarmala Project. "We have emphasised joint research and collaboration between our academic institutions and centres. India will share its space experience with Croatia. Our centuries-old cultural relations are the root of mutual affection and goodwill... Today, we have decided to give more strength to our cultural and people-to-people relations. The duration of the MoU of Hindi Chair in Zagreb University has been extended till 2030. A cultural exchange program has been prepared for the next five years. The mobility agreement will be completed soon to facilitate the movement of people," he said. PM Modi expressed his heartfelt gratitude to the Croatian Prime Minister and the Croatian government for the enthusiasm, warmth and affection with which he has been welcomed. "This is the first visit of any Indian Prime Minister to Croatia, and I have had the good fortune of it. India and Croatia are connected by common values like democracy, rule of law, pluralism and quality. It is a happy coincidence that last year the people of India have given me and the people of Croatia have given the opportunity to Croatian Prime Minister, Andrej Plenkovic to serve for the third consecutive time," he said. The Prime Minister was earlier accorded ceremonial welcome on his arrival in Croatia. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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Business Standard
4 days ago
- Business
- Business Standard
India 5th largest economy, leading digital, mfg push: PM Modi at CEO Forum
Addressing the India-Cyprus CEO Forum, PM Modi emphasised that India has become the fifth-largest economy globally and is rapidly moving towards becoming the third-largest economy soon ANI Europe Prime Minister Narendra Modi on Sunday (local time) showcased India's economic prowess at the India-Cyprus CEO Forum, showcasing the country's growth and potential. Addressing the India-Cyprus CEO Forum, PM Modi emphasised that India has become the fifth-largest economy globally and is rapidly moving towards becoming the third-largest economy soon. PM Modi said, "...In the last one decade, India has become the fifth largest economy of the world and in the very near future, we are moving very fast towards becoming the third largest economy of the world. Today, India is one of the fastest-growing emerging economies in the world... Today, India has a clear policy..." PM Modi highlighted that India has experienced a significant digital revolution, with 50% of digital transactions worldwide happening through the Unified Payments Interface (UPI). This digital transformation has been a game-changer for the country, promoting financial inclusion and innovation. "It has happened after 6 decades that the same government has been elected for the third consecutive time. There has been a digital revolution in the last 10 years. Financial inclusion has become an example of this. Today, 50 per cent of the world's digital transactions take place in India through Unified Payments Interface i.e. UPI," said PM Modi. The Prime Minister welcomed talks to include Cyprus in UPI, similar to France and said, "Many countries, like France, are associated with it. Talks are going on to include Cyprus in this and I welcome it." He highlighted India's growing economic strength and its focus on futuristic infrastructure development. PM Modi also detailed focus areas, including the new Manufacturing Mission, maritime and port development, shipbuilding, and a rapidly expanding civil aviation sector. The Indian government has launched the Manufacturing Mission to boost the country's manufacturing sector, focusing on sectors like electronics, information technology, semiconductors, biotech, and green development. This initiative aims to make India a global hub for semiconductor manufacturing and promote economic growth. "We are investing more than a hundred billion dollars annually in developing futuristic infrastructure in India. In this year's budget, we have started the Manufacturing Mission. Our focus is on maritime and port development. We are also giving priority to shipbuilding and shipbreaking. A new policy is also being brought for this. The civil aviation sector is also moving forward rapidly. Innovation has become a strong pillar of India's economic strength. Our more than 1 lakh startups sell solutions, not just dreams...," said PM Modi. PM Modi invited investors to take advantage of India's growth story, emphasising the country's favourable policies, thriving market, and growing talent pool. He encouraged companies to co-develop, co-design, and co-produce in India, leveraging economic and technological growth. "Many Indian companies have also seen Cyprus in Cyprus and in a way Cyprus as a gateway to Europe. Today mutual trade has reached 150 million dollars. But the real potential of our relationships is much more than that. Most of you are associated with India," he said. PM Modi said that, after tax reforms and decriminalising several laws, the government has given importance to the ease of doing business. "Friends, you know very well that we have done tax reforms. One nation, one tax system has been introduced with GST. Corporate tax has been made. We have done the work of decriminalizing thousands of laws. We have given equal emphasis on ease of doing business as well as trust of doing business. Today India has a clear policy. Along with this, there is also a stable policy," he said. PM Modi said that this visit was the first for India's Prime Minister after two decades. During this visit, the first meeting was a business forum, showing the importance associated with the economic world. "After twenty-three years, the Prime Minister of India has arrived in Cyprus. And the first program is being organised for the Business Round Table. This is an indication of the importance of people's association with the economic world in the relationship between India and Cyprus. I have listened very carefully to your thoughts," he said. PM Modi said that India realises Cyprus' commitment to building economic ties. "I have realized your commitment to India Cyprus economic ties. Just in your thoughts. Not a possibility. I also feel the resolution. There is immense potential for advancement in our relationship. Cyprus has been our trusted partner for a long time, which you also mentioned. And significant investment has also been made in India from here," he said. PM Modi said that the Indian economy is growing in the civil aviation and start-up sectors, with hundreds of unicorns. "It is also growing rapidly in the civil aviation sector. Indian companies have placed new orders for more than 1,000 aircraft. Innovation has become a strong pillar of India's economic strength. More than one hundred thousand of our start-ups. Not just dreams sell solutions. Of these, hundreds have become unicorns. India is in the balance of economy and ecology," he said. PM Modi said India is committed to securing a sustainable future. "India believes, and we are committed to paving the way for a clean and green future. By 2030, we are moving very fast toward the target of 500 gigawatts of renewable energy. Growth of green shipping and up to 2030. They are working fast to make the railways 100% carbon neutral. AI Mission, Quantum Mission, Semiconductor Mission, Critical Mineral Mission, Nuclear Power Mission are becoming the new engine of our growth engine," he said. PM Modi is visiting Cyprus from June 15-16, at the invitation of President Nikos Christodoulides, the first by an Indian prime minister in over 20 years. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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Business Standard
13-05-2025
- Business
- Business Standard
Ursula von der Leyen opens 1st strategic dialogue with EU defence industry
The meeting highlighted the crucial role of the defence sector, with President von der Leyen emphasising the urgent need for Europe's defence industry to operate at a greater scale and speed ANI Europe In a move to boost Europe's security and strategic autonomy, European Commission President Ursula von der Leyen on Monday convened the first-ever Strategic Dialogue with representatives of the European defence industry. The meeting highlighted the crucial role of the defence sector, with President von der Leyen emphasising the urgent need for Europe's defence industry to operate at a greater scale and speed. Sharing a post on X, von der Leyen wrote, "As our Union takes on greater responsibility for its defence, we need a strong defence industry. It's not only a matter of security - but also competitiveness. I met with European industry leaders to hear from them how we can support this crucial sector even more." In a statement released on Monday, the European Commission said, "Today, President von der Leyen opened the first-ever Strategic Dialogue with representatives of the European Defence Industry. The Dialogue underscored the crucial role of the European defence industry in safeguarding European security in a rapidly evolving geopolitical landscape." Acknowledging the defence sector's response since Russia's invasion of Ukraine, she also addressed challenges, ranging from market fragmentation to regulatory hurdles and talent shortages. "The President stressed that Europe's defence industry must be capable of responding at scale and speed. She commended the industry's efforts since the start of Russia's war of aggression against Ukraine, including significantly ramping up production and opening new factory lines. She also pointed to persistent structural challenges faced by this industry, and in particular -- Fragmentation of the demand and supply side, Regulatory barriers, Access to raw materials, The need to keep pace with fast innovation cycles and shorter feedback loops, Access to finance, Access to skilled labour (especially STEM)," the statement said. "To address these issues, the Commission reaffirmed its commitment to working closely with industry stakeholders. The President invited the industry to share their views in order to inform upcoming initiatives, including the Defence Omnibus package, to be presented in June 2025. This package will streamline rules and regulations--covering certification, permits, joint procurement frameworks and other issues," the statement added. The statement further said that the participants engaged in constructive discussions on key areas, including securing investments, enhancing defence industrial cooperation, fostering innovation and technological advancement, securing supply chains, and investing in skills and workforce development.
