Modi, Tusk set target to double India-Poland trade by 2030
New Delhi: Prime Minister Narendra Modi and his Polish counterpart Donald Tusk on Thursday set a target of doubling bilateral trade between the two countries by 2030, according to a joint statement issued after their meeting here.
The leaders called for the early signing and ratification of the EU-India Free Trade Agreement (FTA), as well as its timely implementation, to unlock new opportunities for trade and investment, diversify and strengthen critical value chains, and open new markets, the statement said.
PM Modi invited Polish companies to expand their investments and operations in India and benefit from India’s large market, skilled workforce and growing manufacturing and innovation ecosystem.
Tusk appreciated Indian investment in Poland and highlighted Poland’s strength as a gateway for Indian businesses seeking to expand their presence in Central and Eastern Europe and the wider European market.
The two leaders agreed to expand cooperation in agriculture by resuming the activities of the bilateral working group, aimed at intensifying bilateral trade and cooperation.
The leaders also welcomed the India-Poland Business Forum held during the visit, with the participation of leading CEOs and industry representatives from both countries. They encouraged businesses to explore partnerships in sectors including industrial machinery, defence, infrastructure, pharmaceuticals, mining and critical minerals, energy, ICT and other areas of mutual interest.
They underscored the importance of resilient and diversified supply chains, the promotion of medium and small enterprises, innovation-led growth and digital transformation.
The leaders also recognised the transformative role of digital technologies and artificial intelligence in economic growth, productivity and public service delivery. Acknowledging the India-EU Comprehensive Strategic Agenda, both leaders also agreed to undertake collaborative research on AI, semiconductors and quantum technologies, as well as enhance startup partnerships. They agreed to encourage closer cooperation between enterprises, research institutions and innovation ecosystems in both countries.
The leaders recognised cooperation in the space sector as a key element of the Strategic Partnership and encouraged stronger institutional and industry-level engagement, welcoming efforts to identify concrete areas of mutually beneficial cooperation, according to the joint statement.
Both leaders also highlighted opportunities for close cooperation on semiconductors.
The Prime Ministers emphasised the potential for collaboration in the circular economy and recovery industry, particularly focusing on battery recycling and the refining of rare earth minerals.
They underlined opportunities for closer cooperation in the geology, mining and critical minerals sectors. An MoU in this regard is under negotiation.
The leaders also welcomed the prospect of exploring opportunities to enhance direct flights on routes between Poland and India. They encouraged the civil aviation authorities to hold direct talks as a symbol of strengthening bilateral relations.
Both sides highlighted the prospect of cooperation in the shipping industry as well as in maritime security.
The leaders recognised the importance of cooperation between ports in advancing a secure, resilient and integrated network that diversifies global supply chains, shortens transit times and safeguards critical infrastructure against geopolitical disruptions. The two leaders noted the importance of improving connectivity, including through the India–Middle East–Europe Economic Corridor (IMEC) initiative, the joint statement added.