Modi Undertook European Tour to Spur the India-EU FTA
Modi’s Europe+1 Tour
From 15 to 20 May 2026, India’s Prime Minister Narendra Modi undertook a European tour to The Netherlands, Sweden, Norway and Italy, and stopped by the United Arab Emirates for one day. The visit included two Scandinavian countries, where cooperation focused on energy security and supply chain resilience of critical minerals.
United Arab Emirates (15 May 2026)
India and UAE signed a agreement to build a Strategic Petroleum Reserve in India with a capacity of 30 million barrels. The strategic crude oil storage will buffer India from supply shocks such as the one blocking the Strait of Hormuz.
The Netherlands (15-17 May 2026)
India and The Netherlands reinforce partnership in the field of semiconductors as India positions itself as an alternative to Taiwan, in view of the tension across the Taiwan Strait. In particular,ASML will supply Tata Electronics with chip-making equipment for its fab in Gujarat.
To support capacity building, Indian IIT and IIS established exchange links with the Eindhoven University of Technology and the University of Twente, backed by ASML, NXP and CG Semi.
Sweden (17-18 May 2026)
Sweden despatched its Gripen fighter jets to escort Modi’s jet as a way to showcase its product at close range to the Indian leader. Both countries are committed to push trade. For 2025, bilateral trade volume stood at USD 7.8 billion, and both sides agreed to double the figures within the next few years.
While in Sweden ,Modi also attended a European Business Leaders Roundtable hosted by European Commission President Ursula von der Leyen. Talks focused on the India-EU Free Trade Agreement (FTA).
Modi also had a meeting with AP Moller – Maersk Chairman Robert Maersk to explore cooperation in port infrastructure and maritime connectivity.
Norway (18-19 May 2026)
Both countries signed an agreement to collaborate on the extraction of Critical Minerals. At the same time, India and Norway will cooperate on climate monitoring and research in the Arctic Region.
Italy (19-20 May 2026)
Indi and Italy reviewed the implementation of the Joint Strategic Action Plan 2025-2029. As part of the India-EU FTA, India and Italy reaffirmed their goal to boost bilateral trade to EUR 20 billion by 2029. With regard to the India-Middle East-Europe Corridor (#IMEC), which could potentially have Italy as the landing node in Europe, the two sides agree to hold the inaugural ministerial talks by the end of 2026.
India-EU FTA
The India-EU FTA was signed in January 2026 but its long ratification process by the 27 member states of the EU means that the accord might not become effective for a couple of years. The key target is to expand bilateral trade to USD 200 billion by 2030.