India and EU: A New Era of Commerce and Cooperation

India and the European Union are on the verge of finalizing a monumental free trade agreement, enhancing bilateral trade and strategic partnerships. European leaders will visit India for Republic Day celebrations and summit talks, aiming to announce the trade deal that would impact two billion people globally.

In a significant move poised to reshape global economics, India and the European Union stand on the brink of a historic trade agreement. European Commission President Ursula von der Leyen announced that the forthcoming pact could encompass a market of two billion people, representing nearly a quarter of global GDP.

High-level European officials, including the President of the European Council, Antonio Costa, are visiting India from January 25 to 27 for Republic Day celebrations and summit discussions with Prime Minister Narendra Modi. The visit aims to formalize the long-anticipated free trade agreement at the India-EU summit, a step that promises profound economic implications.

Emphasizing Europe's intent to engage with the world's emerging economic powerhouses, von der Leyen addressed the World Economic Forum in Davos, reinforcing Europe's readiness to seize first-mover advantages within India's dynamic and rapidly growing market. The trade agreement is set to deepen existing bilateral ties, creating new opportunities amidst current global trade disruptions.

(With inputs from agencies.)