India’s Success Key to Global Stability, EU President Says Ahead of Trade Talks

New Delhi: On the occasion of the 77th Republic Day, New Delhi's Path of Duty gave an important political signal regarding India-Europe relations. European Commission President Ursula von der Leyen said that a successful India makes the world more stable, prosperous and secure. Her words have come at a time when preparations are going on to finalize the long pending free trade treaty between India and the European Union.

Von der Leyen and European Council President Antonio Costa were present as chief guests at the Republic Day parade on Monday. President Droupadi Murmu took the salute of the parade by reaching the duty path with both the leaders in a traditional carriage.

What message did Europe give to India on Republic Day?

Von der Leyen wrote on social media platform. She said that India's success is not limited to India alone. The whole world benefits from it. This statement underlines India's global role.

Why is the timing of this statement considered important?

This comment has come at a time when the much-awaited summit is going to be held between India and the European Union. In this meeting, important talks are scheduled between Prime Minister Narendra Modi and European leadership on trade and strategic cooperation. It is believed that a formal announcement of the free trade agreement can be made in this meeting.

What will change with the India-EU trade agreement?

The European Union is currently India's largest trading partner. In the financial year 2023-24, the trade in goods between the two has reached about 135 billion dollars. The proposed FTA will not only increase trade figures but may also see changes in investment, technology and supply chain cooperation.

How are global circumstances affecting this agreement?

International trade is currently under pressure due to US tariff policies. These policies have impacted both India and the European Union. In such an environment, New Delhi and Brussels seem to be coming closer to each other. FTA is being considered a strategic step amidst this global uncertainty.

What has been the history of the India-EU FTA?

India and the EU first started negotiating a free trade agreement in 2007. However, this process was stopped in 2013 due to differences. Talks resumed after almost ten years in June 2022. Now efforts have intensified to bring it to the final stage.

What big decision can be taken on car import duty?

Meanwhile, an international report has claimed that under the proposed FTA, India can make a big cut in import duty on European cars. The current maximum duty of 110 percent can be reduced to 40 percent. There is also a plan to bring this fee down to 10 percent with time.

Which cars will get relief first?

According to sources, initially the duty will be reduced only on those European cars whose import price will be more than Rs 16.3 lakh. This may affect the prices of European cars in the premium segment.

What is the next picture?

The message given from the Republic Day platform is clear. The European Union considers India not just a market but an important partner for global stability. The upcoming India-EU summit can give a new direction to this relationship.