EU President Joins India's Republic Day Amid Trade Pact Talks

European Commission President Ursula von der Leyen attended India's 77th Republic Day celebrations in New Delhi, coinciding with ongoing discussions to finalize a long-stalled trade pact between India and Brussels. Von der Leyen, who was a chief guest alongside European Council President António Costa, expressed that a prosperous India contributes to a more stable, prosperous, and secure world. The visit precedes a crucial India-EU summit where both sides are expected to announce the conclusion of their Free Trade Agreement negotiations. The EU is India's largest trading partner, with bilateral trade in goods reaching $135 billion in FY 2023-24. The proposed FTA aims to significantly boost commercial ties across various sectors, especially in light of global trade disruptions. India is reportedly considering reducing import tariffs on European cars from a maximum of 110% to 40% under the FTA, with potential further reductions over time for high-value imports. Negotiations for the FTA first began in 2007, were halted in 2013, and resumed in June 2022.