The European Union signed a "strategic partnership" with India on Monday aimed at tightening economic and political ties with a burgeoning economy seen in Europe as an emerging power. The deal strengthens European trade, investment and other economic ties with the South Asian country. It breaks new ground by opening the door to increased cooperation in political areas, such as nonproliferation of dangerous arms, the fight against terrorism, ways to promote stability on the Asian subcontinent and United Nations reforms. The accord was signed by Dutch Prime Minister Jan Peter Balkenende, whose country holds the EU's rotating presidency, and Indian Prime Minister Manmohan Singh. The two sides also signed an accord _ worth ¤33 million (US$43 million) _ for European scholarships for 1,000 Indian students a year over the next three years. Two-way trade between India and the EU nearly tripled to ¤27 billion (US$33 billion) from 1992 to 2002, according to EU figures.
