Europe is India’s top economic partner, but India only takes ninth place in the list of foreign investors in the European market. Freeing trade between these two parties could mitigate the unbalanced elements of this relationship and draw them closer together. Leaders of the summit declared their intentions to speed negotiations to reach a free trade agreement in 2009. This agreement would mean a huge increase in commerce between India and Europe, benefiting both markets.

The strengthening of relationship between India and the European Union will also lead to key institutional ties that will foster cultural interaction. Discussions at the summit touched upon increasing the volume of Indian students accepted in Europe and establishing a center for European business and technology in India. These programs would link Indians and Europeans, giving them more contact with one another and thus increasing their ability to work cooperatively on future endeavors.

Prime Minister Nicolas Sarkozy of France made particular strides towards cooperation with India by signing an agreement on civilian nuclear cooperation. Sarkozy emphasized the common interests of France and India, appealing to their common need to invest in nuclear energy sources. This agreement set a precedent for the type of cooperative agreements that the European Union plans to foster between its member states and India in the near future.