The instruments for cooperation were signed in Lisbon this evening in presence of Prime Minister Narendra Modi and his Portugese counterpart Antonio Costa. "The startups here is an exciting space that blends youth, idea, technology, innovation and creativity to generate value and wealth for the benefit of the society", he said.
"Prime Minister Costa represents the best of the Indian diaspora across the world", Modi said during a joint address to the media with Costa.
Prime Minister Modi, who reached Lisbon Portugal on the first leg of his three-nation tour earlier today, will also visit the Champalimaud Foundation here Lisbon known for its advanced biomedical research and clinical care.
"A lot of work has been done in six months since I visited India".
Costa visited India in January this year after becoming head of government last year.
"All other substantive bilateral issues will depend on the degree to which both leaders will be able to create chemistry and see eye-to-eye on key challenges, including how to contain China and re-engage Russian Federation. or if both countries should continue to expand their economic and defence partnership".
The two countries signed MOUs on space alliance and a protocol amending the Double Taxation Avoidance Agreement. "So, we're looking for ways to cooperate on our mutual interests", a senior administration official said while adding United States encourages India and Pakistan to engage in a direct bilateral dialogue aimed at reducing tensions. "But, there is much more that we can do to increase the flow of goods, services, capital and human resources between our two economies".
He said apart from this connection, football can further connect the people in the two countries.
Also signed were MoUs on nano technology, public administration and governance reforms, cultural cooperation, and biotechnology.
Speaking on bilateral collaboration in cutting-edge technology, Modi also announced the setting up of a joint science and technology fund of four million euros.
Prime Minister Modi said that India was now among the fastest growing countries in the world and was touching skies of development.
The highlight of Modi's four-day three-nation visit will be the U.S. leg as Modi will be meeting president Donald Trump for the first time on June 26 in Washington.
Earlier, Modi held bilateral talks with Portugal's Prime Minister Costa who is partially of Indian-origin.