Davos, Jan 20: European Commission President Ursula von der Leyen has signaled that the European Union and India are on the verge of signing an unprecedented trade deal.
Addressing global leaders in Davos, she mentioned that the agreement would create a massive economic powerhouse, bridging Europe with the growth centers of the current century.
The deal is expected to be finalized during high-level talks with Prime Minister Narendra Modi on January 27.
This summit follows the participation of top EU leadership in the Republic Day festivities in New Delhi.
The move is seen as a strategic response to current “geopolitical shocks,” with von der Leyen calling for a new form of European independence.
“Europe wants to do business with the growth centres of today and the economic powerhouses of this century,” the President directly said. She mentioned that while the world is changing, these shifts represent a necessity for Europe to build stronger, independent alliances from Latin America to the Indo-Pacific.
The upcoming summit will likely feature the unveiling of a joint comprehensive strategic vision. This document will set the roadmap for the bilateral relationship through 2030, covering critical sectors such as digital technology, energy, and raw materials.
A significant portion of the new cooperation focuses on the Security and Defence Partnership, which seeks to deepen ties as global competition intensifies.
The President also addressed the broader geopolitical landscape, including the ongoing conflict in Ukraine and relations with the United States. She noted that the EU has accelerated its defence spending, with a surge of up to 800 billion euros planned through 2030.
Regarding trade tensions, she mentioned that Europe’s response to global competition would be “unflinching, united and proportional.”
