At the EU-India summit in Marseille on 29 September 2008, the EU and India agreed to intensify their cooperation in the areas of nuclear energy and the environment and deepen their strategic partnership. EU Turning President Nicolas Sarkozy told a joint press conference at the summit: “The EU welcomes India as a great country to participate in the development of nuclear energy and added that this clean energy will help the world cope with global climate change.” Sarkozy also said that the EU and Indian Prime Minister Manmohan had pledged to speed up negotiations on a free trade agreement and expected the agreement to be concluded by 2009.  Read more: The India-EU summit focuses on coronavirus, sensitive trade issues The European Union (EU) has committed to a quick meeting for a new high-level mechanism with India to advance talks on a trade and investment agreement, Indian government officials said on Thursday. Given Luxembourg`s role as a founding member of the EU, Modi and Bettel also discussed the draft trade and investment agreement with European states. They also discussed cooperation on issues of effective and reformed multilateralism, terrorism and climate change, Chakravorty said. New Delhi: While Indian and European leaders reaffirmed the need for “balanced” trade and investment agreements and the opening of a new high-level trade dialogue, there is still no indication that negotiations on a free trade and investment protection agreement resumed after the 15th India-EU Summit. Negotiations for a comprehensive free trade agreement between the EU and India began in 2007 and suspended in 2013, with ambitions between the EU and India lacking. The EU remains committed to working towards an ambitious, comprehensive and balanced free trade agreement with India, which meets the best interests of each side and is a win-win. Negotiations for a comprehensive free trade agreement between the EU and India were suspended in 2013 after six years of talks. Relations between the Republic of India and the European Union are currently established by the 1994 EU-India Cooperation Agreement.
The EU is an important trading partner of India and both sides have been trying to negotiate a free trade agreement since 2007.  In the 2018/19 financial year, bilateral trade between the EU (excluding services) amounted to $104.3 billion.  He referred to the establishment of a new high-level dialogue mechanism at the ministerial level to “advise bilateral trade and investment relations and address multilateral issues of common interest.”