Europe’s top leaders have arrived in New Delhi to take part in Monday’s Republic Day celebrations, setting the stage for a pivotal EU-India Summit and the expected conclusion of a long-sought free trade agreement, according to Arab News.
European Council President Antonio Luis Santos da Costa and European Commission President Ursula von der Leyen touched down in India over the weekend, serving as chief guests at the nation’s 77th Republic Day parade.
EU-India Summit
On Tuesday, they will meet Prime Minister Narendra Modi at the EU-India Summit, where they are anticipated to unveil a comprehensive trade agreement following years of stalled negotiations.
“The India-EU FTA has been a long time coming as negotiations have been going on between the two for more than a decade. Some of the red lines that prevented the signing of the FTA continue to this date, but it seems that the trade negotiations have found a way around it,” said Anupam Manur, professor of economics at the Takshashila Institution.
“Mother of All Deals”
Last week, von der Leyen hailed the pact as the “mother of all deals,” at the World Economic Forum in Davos, noting it would create a market of 2 billion people.
“The main contentious issue remains the Indian government’s desire to protect the farmers and dairy producers from competition and the European Union’s strict climate-based rules and taxation. Despite this, both see enormous value in the trade deal,” Manur added.
India has already signed free trade agreements with over a dozen countries, including Australia, the UAE, and Japan.
The EU pact would mark India’s third trade agreement in less than a year, following a multibillion-dollar CEPA with the UK in July and another with Oman in December.
The European Union serves as India’s largest trading partner in goods, with bilateral trade reaching roughly $136 billion in the 2024–25 financial year.
Related Topics:
Modi Shortens Saudi Trip After Deadly Kashmir Attack
GCC, Indonesia Target 2026 to Seal Landmark Free Trade Deal
India’s PM Modi Embarks on Historic Visit to Saudi Arabia
