Historic EU-India Trade Deal Nears Completion Amid Strategic Summit Preparations

The European Union is on the brink of finalizing a landmark trade agreement with India. European Commission President Ursula von der Leyen, speaking at the World Economic Forum, emphasized the deal's potential impact on fostering growth and cooperation. High-level meetings and a summit are planned to further deepen EU-India relations.

The European Union is on the verge of completing a historic free trade agreement with India, according to Ursula von der Leyen, President of the European Commission. Speaking at the World Economic Forum in Davos, she highlighted the deal's potential to create a market of 2 billion people, covering nearly a quarter of global GDP.

Von der Leyen also announced her upcoming trip to India, emphasizing continued efforts to forge economic ties. She stressed that Europe's strategy involves creating a stable investment environment, boosting trade, and ensuring sustainable growth. She underscored energy as a critical aspect of this strategy, advocating for an energy union to secure reliable and affordable energy.

Highlighting other advancements, she noted the EU's recent strides in defense investments. The impending India-EU summit, featuring von der Leyen and European Council President Antonio Luis Santos da Costa as Chief Guests for the Republic Day celebrations, aims to further solidify strategic partnerships and enhance collaboration in areas of mutual interest.

(With inputs from agencies.)