FM Sitharaman, EU commissioners discuss Economic Cooperation, FinTech, Trade, and Investment

Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, met with Maria Luis Albuquerque, European Commissioner of Financial Services, Savings and Investments Union, and Piotr Serafin, European Commissioner of Budget, Anti-fraud and Public Administration, in New Delhi.

The meeting centered around discussions on strengthening economic ties, enhancing mutual cooperation, and exploring new avenues for collaboration in key sectors such as financial technology (FinTech), trade, and investment between India and the EU.

In a social media post, the Ministry of Finance said, “Union Minister for Finance and Corporate Affairs Smt.@nsitharamanmet H.E. Ms. Maria Luis Albuquerque, European Commissioner of Financial Services, Savings and Investments Union”

Both sides acknowledged the strong partnership between India and the European Union (EU) and highlighted the significance of the visit by the EU College of Commissioners.

This visit marks their first official engagement outside Europe since assuming office in December 2024, underlining the importance of India as a key global partner.

Pankaj Chaudhary, the Union Minister of State for Finance, was also present at the meeting.

The leaders reaffirmed the historic ties between India and the EU and emphasized the need to deepen collaboration in critical areas of mutual interest.

With growing global economic challenges, India and the EU aim to strengthen their partnership through enhanced trade relations and investment opportunities. FinTech emerged as a key area of discussion, given its potential to drive financial inclusion and economic growth in both regions.

The discussions also reflected on the need for continued cooperation in regulatory frameworks, financial services, and investment policies that could foster a stronger and more resilient economic relationship.

The meeting concluded with both sides expressing commitment to working closely to expand bilateral economic cooperation.

European Commission President Ursula von der Leyen, accompanied by the European Union College of Commissioners is on a two-day visit to India.

This is the first-ever visit of the EU College of Commissioners together to India and among the first such visits since the start of the mandate of the current European Commission in December 2024 after the European parliamentary elections held in June 2024.