NEW DELHI, January 27. /TASS/. New Delhi hopes that signing a document on a partnership in the security and defense sector between India and the European Union will lead to expansion of joint defense production, Indian Prime Minister Narendra Modi said.

"This [partnership] will further strengthen our cooperation in counterterrorism, cybersecurity, and maritime security. It will also reaffirm our shared commitment to a rules-based [international] order, enable us to expand cooperation in the Indo-Pacific region, and create new opportunities for joint production between our defense companies," Modi said at a press conference with European Commission President Ursula von der Leyen and European Council President Antonio Costa following their visit to New Delhi.

Modi noted that, amid global instability, the EU-India partnership could become a "stabilizing factor in the international system."

"Respect for multilateral diplomacy and international norms is our shared priority. Sometimes there comes a moment in bilateral relations when history itself says it was a historic moment, a time when a new era began. Today's historic summit is that turning point," Modi said.

India and the EU signed a political declaration on Tuesday concluding negotiations on a free trade agreement. According to Modi, the agreement will not only boost mutual investment between India and the EU but also "strengthen supply chains globally."

"This is not just a trade agreement. It is a model [of trade cooperation] for shared prosperity," the Indian Prime Minister said.

New Delhi and Brussels have been negotiating a free trade agreement for nearly 20 years. The agreement has not yet been formally signed. It requires approval from both the EU and India. India's Ministry of Commerce and Industry stated that the signing could take place in six months, and the new trade regime would then come into force in 2027.