New Delhi [India], February 3 (ANI): Minister of State for External Affairs Kirti Vardhan Singh on Monday hailed the commencement of the Republic of Cyprus's Presidency of the Council of the European Union, noting that Cyprus's chosen theme of 'Autonomy' aligns closely with India's vision of 'Aatmanirbharata' (self-reliance).

Addressing an event to mark the occasion, the Minister emphasized the deepening strategic partnership between India and the European Union (EU), describing the relationship as an 'anchor of stability and a force for global good.'

'Cyprus assumes this important responsibility at a time of significant transition for Europe, and amid a deepening partnership between India and the European Union. I note that Cyprus has chosen 'Autonomy' as the unifying theme across its core priority areas. This resonates strongly with India's own vision of Aatmanirbharata,' Singh said.

Highlighting the historic milestones in India-EU relations, the Minister referred to the participation of the Presidents of the European Council and the European Commission as Chief Guests at India's Republic Day celebrations this year. He also pointed to the India-EU Summit held on January 27 as a pivotal moment for reviewing progress in sectors like digital transformation, clean energy, and critical technologies.

Singh underscored the significance of the India-EU Free Trade Agreement (FTA), calling it the 'largest trade agreement ever concluded by India.'

'The conclusion of the India-EU Free Trade Agreement represents another significant milestone... it reflects our shared recognition of the need to strengthen economic resilience, diversify supply chains, and create new opportunities for trade, investment, and innovation,' he added.

According to the Minister, bilateral trade between the two entities currently stands at approximately 180 billion euros, with a diaspora of over 800,000 Indians contributing to EU member states.

On the security front, Singh noted that the Security and Defence Partnership would bolster collaboration in counter-terrorism, maritime security, and cybersecurity. He also highlighted the growing convergence in the Indo-Pacific, noting the EU's participation in India's Indo-Pacific Oceans Initiative and the priority status of the India-Middle East-Europe Economic Corridor (IMEC).

Touching upon bilateral ties with Nicosia, the Minister stated that the relationship has gained 'renewed momentum' following the Prime Minister's historic visit to Cyprus last year.

'Cyprus's role as a financial and services hub, combined with India's robust growth trajectory and vibrant innovation ecosystem, offers promising opportunities for mutually beneficial cooperation,' Singh said, adding that India looks forward to working closely with the Cyprus Presidency to address shared global challenges. (ANI)