EU Chief Hails India-Europe Ties at Republic Day Celebrations, Paving Way for Trade Deal
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European Commission President Ursula von der Leyen has praised the strengthening bond between Europe and India, calling it a 'friendship that benefits us all.' She made the remarks during the 77th Republic Day parade in New Delhi, where she was the chief guest alongside European Council President Antonio Costa. As she attended the celebrations, von der Leyen expressed her honour at being part of such a significant event. She noted that a thriving India contributes to global stability, prosperity, and security, ultimately benefiting all nations. Prime Minister Narendra Modi echoed von der Leyen's sentiments, highlighting the growing India-European Union (EU) partnership. He stated that the presence of European leaders at the Republic Day celebrations will deepen bilateral cooperation across various sectors. The India-EU summit, scheduled for Tuesday, will witness the formal announcement of the proposed Free Trade Agreement (FTA) between both sides. The EU Council has confirmed that the negotiations for the FTA have been successfully concluded, with Commerce Secretary Rajesh Agrawal describing the deal as 'balanced and forward-looking.' The proposed FTA is expected to boost trade and investments in both economies, with trade in goods between the EU and India exceeding €120 billion in 2024. The deal is set to come into effect next year, following a six-month 'legal scrubbing' process and formal signing.
