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EU High Representative Federica Mogherini today attends together with Commission President Jean-Claude Juncker and European Council President Donald Tusk the 14th EU India Summit in Delhi upon the invitation of Indian Prime Minister Narendra Modi. At the summit the leaders adopted a joint statement, reaffirming their commitment to strengthen the EU-India strategic partnership. The leaders expressed satisfaction at the progress made towards implementing the India-EU Agenda for Action 2020. In the area of security, the EU and India discussed how to jointly combat terrorism and violent extremism in all their forms and manifestations and adopted the India-EU Joint Statement on Cooperation in Combating Terrorism. They also signed two joint declarations on climate and energy and partnership for smart and sustainable urbanisation. On trade and investment, leaders reviewed the state of play and next steps towards relaunching negotiations for a free trade agreement (FTA). They also commended the strong engagement of the European Investment Bank in India in a wide range of key sectors.
India is the world's fastest growing economy, and our partnership offers substantial opportunities for the EU as well as for the development of India. EU-India trade in goods and services is worth EUR 100 billion per year or EUR 275 million per day. Around 6,000 European companies have set up shop in India creating five million jobs across the country, as well as benefiting EU growth and European consumers. Indian companies are doing the same in Europe.
The EU and India also work together on green technologies. Following the signature of the Clean Energy and Climate Partnership and Water Partnership, EU experts and their Indian counterparts work conjointly to develop appropriate regulations and incentives for green investments, as well as ambitious common programmes in renewable energy, energy efficiency, smart grids and water management. As a result of the cooperation among European and Indian universities, institutes and scientists within EU's Research and Innovation Programme 'Horizon 2020', new technologies are being developed, increasing smart grid capacity, building advanced materials with nanotechnology, developing new vaccines or modernising cyber-physical-systems and green transport.
The EU and India are also security partners. We stand shoulder to shoulder to address growing common threats and they are currently looking at establishing effective counter radicalisation programmes, removing extremist content available online, and putting an end to terrorism financing. The patrolling work that European states - coordinated under the EU banner - and the India Navy have been undertaking in the waters bordering Somalia has been critical to weakening piracy activities in that region. Cybersecurity is another area where the EU and India are developing closer exchanges to protect our economies and the functioning of our democracies.
Both India and the EU are also firm believers that non-proliferation and disarmament are necessary to maintain world security and are promoting international regimes to control missile technology and the spread of weapons of mass destruction.
Finally, there are strong bonds directly between the peoples of Europe and India, developed through tourism, education exchanges and civil society cooperation among others. This is facilitated by the EU. Thousands of Indian students enrol in European universities every year, including through the Erasmus programme. Every year, millions of Europeans visit India to discover this great country's many marvels and millions of Indians make the reverse trip to Europe to visit, live, work or study.