India's Republic Day Parade attended by EU as guest of honor, India-EU to sign free trade agreement
India is expected to become the fourth largest economy in the world this year, with trade between India and the EU reaching 120 billion euros in 2024, an increase of nearly 90% over the past decade, and service trade reaching 60 billion euros.
On Monday, EU leaders, as honored guests of the New Delhi government, attended the India Republic Day parade, and they are about to sign an ambitious free trade agreement with the Indian government.
According to AFP on January 26, during the parade held in the capital New Delhi, India displayed infantry, cavalry, camel troops, various vehicles, missiles, drones or aircraft, as well as the forces and equipment deployed during the military conflict with Pakistan in May of last year.
Prime Minister Modi delivered a speech before the parade, saying: "This event marks our joint determination to build a developed India."
On the viewing stand, European Council President Costa and European Commission President von der Leyen sat next to Indian Prime Minister Modi.
India and the EU have been negotiating a free trade agreement for more than 20 years. The tariff war launched by US President Trump accelerated the conclusion of the agreement. Both sides hope to sign the free trade agreement at the bilateral summit to be held on Tuesday.
According to European statistics, India is expected to become the fourth largest economy in the world this year, with trade between India and the EU reaching 120 billion euros in 2024, an increase of nearly 90% over the past decade, and service trade reaching 60 billion euros.
Both India and Europe are seeking new markets to get rid of US tariffs and Chinese export controls.
Source: rfi
Original: toutiao.com/article/1855392185381130/
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