India-EU trade deal near finalization, stronger defence ties eyed
India-EU trade deal near finalization, stronger defence ties eyed
Spain's Albares says the India-EU pact is on the cusp, with leaders planning stronger defence cooperation as the January summit approaches.
New Delhi — Spain's Foreign Minister José Manuel Albares says the India-EU trade deal is on the cusp of finalization, with leaders expecting to seal the agreement in the coming days as a shield against economic coercion and a boost for free trade.
The pact would create the world's largest free-trade zone once concluded, linking nearly two billion people and about a quarter of global GDP. Officials say the talks are progressing smoothly, even as carbon levies and import duties for key sectors such as autos and steel remain sticking points. European Commission President Ursula von der Leyen is set to visit India to iron out these remaining issues ahead of the EU-India summit on January 27.
Defense ties are also on the agenda, with India signaling substantial potential for deeper cooperation. Jaishankar highlighted a shared push to build resilient manufacturing capabilities in defence, pointing to concrete steps like a joint Airbus-Tata venture to manufacture C-295 aircraft in India as an example of extended collaboration.
Analysts say the deal would send a strong message against protectionist pressures and underscore a mutual commitment to open markets, even as negotiators navigate sensitive topics that could shape trade and defence links for years to come.
