India and the European Union will hold their 14th summit talks on October 6 during which both sides are expected to discuss a host of key issues including ways to remove hurdles for the long-pending free trade agreement.
The Ministry of External Affairs (MAE) said the president of the European Council, Donald Franciszek Tusk, and the president of the European Commission, Jean-Claude Juncker, will be here on a working visit from October 5-7 for the summit.
President Tusk and President Juncker will be accompanied by a high-level delegation including EU's High Representative for Foreign Affairs and Security Policy and Vice-President of the European Commission Federica Mogherini, MEA spokesperson Raveesh Kumar said.
"The 14th India-EU Summit aims to deepen the India-EU Strategic Partnership and advance collaboration in priority areas for India's growth and development," said Kumar.
The EU is India's largest regional trading partner with bilateral trade in goods at USD 88 billion in 2016.
The EU is also the largest destination for Indian exports and a key source of investment and technologies.
India received around USD 83 billions of foreign direct investment from Europe during 2000-17 which constituted approximately 24 per cent of the total FDI inflows into the country during the period, said Kumar.
India and the EU have been strategic partners since 2004.
The 13th India-EU Summit was held in Brussels on March 30 last year during Prime Minister Narendra Modi's visit.
The summit last year had failed to make any headway on resumption of long stalled negotiations for a free trade agreement.
Launched in June 2007, the negotiations for the proposed EU-India Broad-based Trade and Investment Agreement (BTIA) have witnessed many hurdles with both sides having major differences on crucial issues like intellectual property rights, duty cut in automobile and spirits.
The issue is likely to figure during the upcoming summit talks.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.