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Spain's Foreign Minister has indicated that a trade deal between EU and India is going to happen soon.Image Credit source: ChatGPT

The deteriorating relations between Europe and America are constantly in the news. Where US President Donald Trump has threatened to target Europe with tariffs regarding the issue of Greenland. On the other hand, Europe has also given clear indications of changing its strategic partner to teach America a lesson. European Union is soon going to become India's next strategic and trading partner. Such a deal is going to happen between the two countries. Due to which the doors of India's progress will automatically open. Besides, India will also be compensated for its losses due to American tariffs. Spain Foreign Minister has indicated that a mega deal is going to be signed with India soon. Let us also tell you what kind of information he has given regarding this deal.

Met with President Murmu

Spain's Foreign Minister Jose Manuel Albares said during his visit to New Delhi on Wednesday that the historic trade deal between India and the European Union is likely to be concluded in the next few days. He presented the deal as a safeguard against economic pressure. This deal is happening after the agreement reached between the European Union and Mercosur on Monday. This will create the world's largest FTA area. The agreement is a strong signal amid US President Donald Trump's threat to impose heavy tariffs on India and even higher tariffs on Europe for not supporting his plans to take Greenland against its will.

When will the EU India deal happen?

After bilateral meetings with Indian External Affairs Minister Subrahmanyam Jaishankar and President Draupadi Murmu in Delhi, Albares said everything is progressing smoothly. We do not expect any hindrance. He said that we have to make it clear to the whole world that we believe in free trade and we have adequate measures to protect ourselves from economic pressure.

European Commission President Ursula von der Leyen is expected to reach India on Sunday evening to finalize issues mainly related to carbon duty and import duty on key sectors like automobile and steel ahead of the EU-India summit on January 27.

Von der Leyen has said that this agreement will create a market of 2 billion people, which will be about a quarter of the global GDP. According to European Union data, trade in goods between the European Union and India has increased by almost 90 percent in the last decade, whose value was 120 billion euros ($140.47 billion) in 2024.

Close ties in defense sector

Addressing the Spanish delegation on Wednesday, Indian External Affairs Minister Jaishankar said that he sees immense potential to enhance the economic partnership between the two countries, and laid special emphasis on the joint commitment to develop strong manufacturing capabilities in the defense sector. Albares further said that the joint venture between Airbus and India's Tata Group to manufacture C-295 aircraft in India is an example of this type of business relationship that should be replicated. Jaishankar said the first India-made Airbus aircraft, which is being produced at a joint plant with Tata Group in the western state of Gujarat, is expected to be ready before September 2026, slightly ahead of schedule.