Prime Minister Narendra Modi will hold restricted and delegation-level discussions with European Commission President Ursula von der Leyen and European Council President Antonio Costa on the sidelines of the 16th India-European Union Summit today.
Commerce Secretary Rajesh Agrawal confirmed on Monday that India and the EU have successfully concluded negotiations and are set to announce the Free Trade Agreement (FTA) on Tuesday, January 27.
Speaking on the India-European Union free trade agreement, US Treasury Secretary Scott Bessant, a close ally of President Donald Trump, said that despite the US imposing a 25 percent tariff on India for purchasing oil from Russia, European countries signed a major trade agreement with India. He said that last week, Europe signed a trade deal with India. The Europeans are, in effect, financing a war against themselves.
America, under the leadership of Donald Trump, said that it has made more ‘sacrifices’ than Europe to end the Russia-Ukraine war. The Trump administration believes that Europe is funding the war against itself. America has imposed a total of 50% tariff on India. Out of this, 25% tariff has been imposed specifically for buying oil from Russia. This decision was taken in August 2025. Amidst all this, Donald Trump wished India on its 77th Republic Day. He said that India and America are the largest and oldest democracies in the world and the relationship between the two is historical.
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