India and the EU are “natural partners” because of their “shared values of democracy and respect for human rights” and “commitment to pluralism and liberty” and both share a tradition of “multi culturalism” and are naturally empowered and help others as that would be the “inevitable consequence of globalization.”
Singh reiterated that the “Indian democracy, with high economic growth and inclusive governance” makes India a “unique partner for the EU” in a region spanning “ Gibraltar to the Malacca Straits.” Highlighting the inclusion of India in the Asia Europe Meeting, Singh said the lack of “integrated foreign and
defense policy” with the EU will negatively impact “ India ’s global vision” just as “EU’s engagement with Asia ” would remain “incomplete without India .”
Specifically, India wants to work with the EU to address “key issues of globalization, terrorism, proliferation, energy and environment.” Seeking to highlight the development of India distinctively from China and other Asian nations, Singh said that the economic reforms of the 90s is seeing a billion people “seeking salvation within the framework of an open economy and an open society committed to fully respecting fundamental human freedoms and the rule of law.”
Appreciating EU’s role as the “largest trading partner and the second largest FDI sources” in this “explosion of creativity and entrepreneurial spirit,” Singh wanted further partnership from the EU to help India realize its “ambition to increase and sustain growth rates of 10% in the coming years.” India wants the EU to see it as a safe, secure and profitable trade and investment destination” and as a “hub for high technology R&D, manufacturing”, and services for the Indian, South East Asia , West Asia , and Central Asian markets. Unlike China which will have large ageing populations, India will continue to have a large “pool of quality scientific talent and a young skilled work force in the manufacturing and service sectors.”
For the EU to be able to “take advantage” of the manpower asset and the “inevitable requirement of globalization,” it must relax its “Restrictive visa regimes” while controlling “illegal immigration.” Similarly, India promised to “further
liberalize FDI in areas such as Telecommunications and Retail; efforts to improve infrastructure; opening up our financial sector and relaxation of labor laws” but Singh did not specify a timeline by which these will happen. He also reminded the EU about the controversial “Special Economic Zones”
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