Launched in June 2007, the FTA talks between India and the EU hit a roadblock in May 2013 when the two sides failed to bridge substantial gaps on crucial issues, including tariff, data security status for the IT sector and market access. Prime Minister Modi was scheduled to visit Portugal for the India-EU summit but it was called off in view of the coronavirus crisis and both sides decided to hold the deliberations virtually.
In the 15th India-EU summit in July last year, PM Modi had pitched for bringing out an "action-oriented" agenda to further expand ties between the two sides. In that virtual summit, the two sides came out with a roadmap to further strengthen strategic partnership by 2025.
More than 6,000 European companies operate out of India, providing directly 1.7 million jobs and indirectly 5 million jobs in a broad range of sectors.