Wednesday, January 12 2005 15:10 Hrs (IST) - World Time -

London: Observing that India was taking "giant steps" towards becoming a world economic power, EU (European Union) Trade Commissioner Peter Mandelson said Europe wants to build a new strategic partnership with the country.

"India is a 'second China' in the impact it will have on the world economy. It is making giant steps towards becoming a world economic power, yet remains full of untapped potential," Mandelson said on the eve of his three-day visit to India from Jan 12, 2005.

His visit aimed at boosting bilateral trade and economic ties will be the first to India by a member of the new Commission led by Jose Manuel Barroso who took office in November 2004.

"Europe wants to build a new strategic partnership with this 'new India'. Both must live up to the responsibilities of leadership, not least by paving the way for agreement on the completion of the Doha Development Round," Mandelson said, according to the European Commission.

Mandelson will meet Prime Minister Manmohan Singh, Commerce Minister Kamal Nath and West Bengal Chief Minister Buddhadeb Bhattacharya during his visit.

On Thursday (Jan 13), the European Trade Commissioner will deliver his keynote address at the CII (Confederation of Indian Industry) Partnership Summit. In his speech, he is expected to lay emphasis on the importance of stronger ties between India and Europe through the new Strategic Partnership agreed at the EU-India Summit in November 2004.

During his talks with Indian leaders, Mandelson is expected to raise the question of increasing investment by EU companies in India through more transparent regulation and greater legal certainty for EU investors.