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India–Israel Ties in Focus as Modi Meets Netanyahu

by theparliamentnews.com 25 February 2026

written by theparliamentnews.com

Prime Minister Narendra Modi landed in Israel on Wednesday for talks with his counterpart Benjamin Netanyahu aimed at reviewing the India–Israel Strategic Partnership and identifying new opportunities for cooperation across multiple sectors, including science and technology.

The visit holds diplomatic significance. In 2017, Modi became the first Indian prime minister to visit Israel, marking a visible elevation in bilateral ties. The current visit comes shortly after India joined more than 100 countries at the United Nations in criticising Israel’s actions in the West Bank. New Delhi signed a joint statement after initially refraining from participating in a collective condemnation of settlement expansion.

Diplomatic and Strategic Background

India and Israel established full diplomatic relations in 1992. Since then, ties have expanded steadily, particularly over the past decade, with growing engagement in defence, trade, agriculture, water management, and advanced technologies.

Defence cooperation remains the cornerstone of the strategic partnership. According to data from the Stockholm International Peace Research Institute (SIPRI), India accounted for over 38% of Israel’s arms exports between 2014 and 2024, making it one of Israel’s largest defence customers. Military hardware, surveillance systems, radar technologies, and precision-guided munitions form a key component of this engagement.

The partnership also aligns with India’s “Make in India” initiative, with Israeli defence and technology firms increasingly collaborating with Indian companies for local manufacturing and joint production.

Trade Trends and Economic Links

Bilateral trade between India and Israel has seen notable fluctuations in recent years. From approximately $200 million in 1992, trade volumes expanded significantly over three decades, peaking at over $10.7 billion in 2022–23.

However, trade declined to $6.5 billion in 2023–24 and further to $3.6 billion in 2024–25. The contraction has been attributed to war-related disruptions and challenges in trade routes.

Despite the recent slowdown, India has maintained a trade surplus with Israel since 2014–15. The surplus widened sharply to $6.1 billion in 2022–23 before narrowing to $2.5 billion in 2023–24 and further to $663 million in 2024–25.

Refined petroleum products such as petrol and diesel accounted for nearly 44% of India’s exports to Israel between 2019 and 2025, followed by diamonds at around 22%. The diamond trade remains structurally significant for both countries. India imports raw diamonds from Israel, cuts and polishes them domestically, and exports processed diamonds back to global markets.

On the import side, diamonds account for roughly one-third of India’s imports from Israel. Other key imports include mineral and chemical fertilisers, electronic integrated circuits, and radar apparatus.

Investment flows have also grown. Israel’s cumulative foreign direct investment (FDI) into India crossed $347 million between 2000 and September 2025, according to official data. Israeli firms have made more than 300 investments in India, primarily in the technology sector. Meanwhile, cumulative overseas direct investment (ODI) from India into Israel reached $443 million between April 2000 and April 2025, with Indian companies investing in cybersecurity, agriculture, water management, and electric mobility ventures.

Labour Mobility and Education

Migration and labour mobility form another important dimension of the relationship. As of 2024, approximately 32,715 Indians travelled to Israel, compared to around 27,196 in 2023.

Employment-driven migration has increased, particularly following the outbreak of the Gaza conflict. Official figures show that around 32,000 Indian workers were present in Israel as of October 2024, many recruited to fill labour shortages in the construction sector after Palestinian workers were displaced. These workers are primarily employed in construction-related roles.

In addition to labour migration, educational exchanges continue. Around 900 Indian students are currently studying in Israeli institutions, contributing to academic and research collaboration between the two countries.

Diplomatic Context

The timing of Modi’s visit is notable given recent developments at the United Nations concerning Israel’s policies in the West Bank. India’s decision to align with a joint statement criticising settlement expansion reflects a calibrated diplomatic approach balancing strategic partnership with Israel and broader multilateral commitments.

The discussions between the two leaders are expected to review progress in existing cooperation frameworks while exploring expanded engagement in emerging sectors such as artificial intelligence, innovation, and advanced manufacturing.

As India and Israel approach over three decades of formal diplomatic relations, the strategic partnership continues to evolve amid regional geopolitical shifts, trade realignments, and technological transformation.

25 February 2026 0 comment

Blog Business Featured World

IBM Stock Falls to 25-Year Low After AI Disruption Fears

by theparliamentnews.com 24 February 2026

written by theparliamentnews.com

IBM Shares Fall 13% After Anthropic Claims AI Can Modernise COBOL

Shares of IBM recorded their sharpest single-day drop in more than 25 years on Monday after fresh concerns emerged over the impact of artificial intelligence on the company’s mainframe and services business.

The trigger came from AI startup Anthropic, which said its Claude Code tool is capable of understanding and modernising COBOL, a decades-old programming language that continues to underpin many mission-critical systems running on IBM’s mainframes.

IBM stock closed down 13.2% at $223.35, marking its biggest daily fall since October 18, 2000. According to Reuters, the sell-off has pushed the stock down roughly 25% so far this year, as investors reassess how quickly AI tools could reshape the economics of enterprise software and IT services.

Why COBOL Matters to IBM

COBOL, short for Common Business-Oriented Language, was created in the late 1950s and remains deeply embedded in global banking, insurance, airline systems, and government infrastructure. IBM has spent decades building and supporting mainframe systems optimized for large-scale transaction processing, where COBOL continues to play a central role.

Anthropic estimates that around 95% of ATM transactions in the United States still rely on COBOL-based systems, highlighting both the language’s scale and its continued relevance.

For years, modernising COBOL systems has required lengthy, consultant-led projects. These projects often involve teams manually tracing dependencies across vast codebases, documenting poorly understood workflows, and identifying integration risks. Such efforts have generated steady services revenue for companies including IBM.

What Anthropic Claims

In a recent blog post, Anthropic said its Claude Code tool can automate large parts of COBOL modernisation. According to the company, AI can analyse extensive codebases, trace dependencies across thousands of lines of code, generate documentation, and flag potential risks that would otherwise take months of manual effort to uncover.

“Hundreds of billions of lines of COBOL run in production every day,” Anthropic wrote. “Despite that, the number of people who understand it shrinks every year.”

The company argued that AI changes the cost equation. “Legacy code modernisation stalled for years because understanding legacy code costs more than rewriting it. AI flips that equation,” it said, adding that projects that once took years could now be completed in quarters.

These claims appear to have unsettled investors concerned that AI-driven automation could reduce demand for traditional consulting-heavy transformation projects.

Market Reaction and Broader Sentiment

The sharp fall in IBM shares reflects a broader shift in market sentiment toward enterprise software and IT services firms. Over recent weeks, investors have been weighing the speed at which AI tools are moving from experimental deployments to production use in large organisations.

Anthropic has also launched multiple Claude plug-ins designed to automate complex software tasks, positioning AI as an application layer capable of handling activities traditionally performed by consultants and integration teams.

The anxiety is not limited to the United States. Indian IT stocks have also faced pressure amid concerns that AI-led automation could reduce the need for large delivery teams.

However, industry views remain divided.

Hari Shetty, Chief Strategist and Technology Officer at Wipro, recently said that AI is more likely to expand opportunities for IT services firms than diminish them. He suggested that the range of potential AI-enabled services could create new areas of work.

By contrast, Vishal Sikka, former CEO of Infosys, has warned that generative AI is already changing how enterprise projects are executed. He noted that the disruption is tangible, particularly in areas such as code migration and system integration, where productivity gains are becoming evident.

What It Means for IBM

IBM’s business model has evolved in recent years to include hybrid cloud, AI, and consulting services alongside its traditional mainframe operations. However, the company’s installed base of mainframe customers and associated services revenue remains significant.

If AI tools meaningfully reduce the time and cost required to modernise legacy systems, it could alter pricing structures and margins in consulting-heavy projects. At the same time, AI adoption may also create new service opportunities, including AI integration, governance, and risk management.

For now, the market response indicates that investors are reassessing how quickly AI-driven automation could affect long-established revenue streams tied to legacy technologies.

IBM has not publicly indicated that its core mainframe strategy is changing. The longer-term impact will likely depend on how rapidly enterprises adopt AI-based modernisation tools and whether established firms can integrate such capabilities into their own service offerings.

24 February 2026 0 comment

Blog Featured World

Trump Announces 15% Global Tariff Following Supreme Court Ruling

by theparliamentnews.com 22 February 2026

written by theparliamentnews.com

US President Donald Trump has announced plans to impose a 15% tariff on all goods entering the United States, days after the Supreme Court of the United States struck down his previous global tariff policy.

The new tariff, announced on Saturday via Truth Social, will come into effect on Tuesday, 24 February. According to the president, the levy will be introduced under a rarely used trade statute and can remain in place for approximately five months before the administration must seek approval from Congress.

Court Ruling on Tariff Authority

In a 6–3 decision, the Supreme Court ruled that the president exceeded his authority when imposing sweeping global tariffs last year under the International Emergency Economic Powers Act. The 1977 law grants the president powers to regulate commerce during national emergencies, but the court found that its application in this case went beyond the statute’s intended scope.

The majority opinion was joined by the court’s three liberal justices, Chief Justice John Roberts, and two conservative justices nominated by Trump Amy Coney Barrett and Neil Gorsuch.

Three conservative justices Clarence Thomas, Brett Kavanaugh, and Samuel Alito dissented.

Following the ruling, Trump criticised the decision, describing it as “ridiculous” and accusing certain members of the court of undermining American economic interests.

Shift from 10% to 15%

Initially, Trump had stated that he would replace the scrapped tariffs with a 10% levy on all imports. However, he later revised that position, announcing that the administration would raise the rate to 15% described as the maximum permitted under the alternative trade authority being invoked.

The administration has not yet detailed the specific statute being used to justify the new tariff framework, but officials indicated that it differs from the 1977 emergency powers law cited in the Supreme Court case.

Impact on Trading Partners

The move raises questions for countries such as the United Kingdom and Australia, which had previously negotiated tariff arrangements with the US at a 10% rate. The increase to 15% may require further diplomatic discussions and potential adjustments to trade agreements.

Economists note that a universal tariff of this scale could affect supply chains, import costs, and consumer prices. Businesses reliant on imported raw materials and finished goods may face higher input costs, which could be passed on to consumers.

At the same time, supporters of the policy argue that higher tariffs could encourage domestic production by making foreign goods less competitive in the US market. Trump has consistently maintained that tariffs form a central component of his economic strategy to boost domestic manufacturing and reduce trade imbalances.

Political and Economic Context

Tariffs have been a key element of Trump’s trade policy platform. During his previous term, the administration implemented a series of import duties targeting multiple countries, citing concerns over trade deficits and industrial competitiveness.

The latest announcement comes amid broader debates in Washington over executive authority in trade policy. While Congress holds constitutional authority over trade, presidents have historically exercised broad delegated powers through various statutes.

The temporary nature of the new tariff limited to roughly five months unless Congress approves an extension introduces uncertainty for global markets. Analysts say that legislative debate in Congress will likely shape the longer-term direction of US trade policy.

As of now, there has been no formal congressional statement confirming support or opposition to the proposed 15% levy.

The administration is expected to release further details on implementation and enforcement mechanisms before the tariff takes effect on 24 February.

22 February 2026 0 comment

Blog Featured World

US Expands Naval Presence Amid Rising Tensions With Iran

by theparliamentnews.com 14 February 2026

written by theparliamentnews.com

The United States is increasing its military presence in the Middle East amid reports that officials are preparing contingency plans for potential extended operations against Iran. According to a Reuters report citing two U.S. officials, military planners have outlined options for operations that could last several weeks if authorised by President Donald Trump. No final decision on military action has been announced. This increased focus underscores the strategic importance of the US in the region.

The Pentagon has ordered the redeployment of the USS Gerald R. Ford, a nuclear-powered aircraft carrier, from the Caribbean to the Middle East. It is expected to join the USS Abraham Lincoln carrier strike group already operating in the region. The move places two U.S. carrier strike groups within operational range of Iran, significantly increasing American air and naval capabilities, further establishing the role of the US in the strategic landscape.

This maneuver highlights the commitment of the US to maintain stability and deter threats in the area, reinforcing its pivotal role in regional security.

Growing Military Posture

Carrier strike groups typically include guided-missile destroyers, cruisers, fighter aircraft and logistical support vessels. The addition of a second carrier enhances surveillance capacity, air strike capability and layered defence systems.

The redeployment of the USS Gerald R. Ford follows its earlier assignment in the Caribbean, where it was part of operations connected to U.S. security objectives in the Western Hemisphere. Its shift to the Middle East signals a change in strategic focus amid heightened tensions with Tehran.

Officials cited in the Reuters report indicated that preparations involve planning for sustained operations rather than limited, single-target strikes. However, they did not confirm that any operation had been authorised.

Diplomatic Engagement Continues

Despite the military buildup, diplomatic channels remain active. U.S. and Iranian representatives recently held discussions in Oman aimed at exploring the possibility of renewed negotiations concerning Iran’s nuclear programme.

The talks are viewed as exploratory and intended to assess whether progress toward a broader agreement is possible. Differences remain over Iran’s ballistic missile programme and regional activities, which have long been sources of tension between Washington and Tehran.

When asked about reports of potential extended military operations, White House spokesperson Anna Kelly stated that the President considers a range of perspectives before making decisions related to national security.

Strategic Context

Tensions between the United States and Iran have fluctuated over recent years, often centering on Iran’s nuclear activities and missile development. Washington maintains that preventing Tehran from acquiring a nuclear weapon remains a core strategic objective.

The presence of two carrier strike groups is relatively uncommon and typically reflects heightened readiness. Dual-carrier deployments provide expanded operational flexibility, faster response times and increased strike capacity if required.

Defence analysts note that such deployments can serve multiple purposes: deterrence, reassurance of regional allies and preparation for contingency operations. At the same time, large-scale force movements may raise concerns about escalation.

Balancing Pressure and Negotiation

President Trump has maintained a firm public stance toward Iran, stating that all options remain under consideration. His administration has combined diplomatic engagement with visible military readiness.

Officials have emphasised that planning for potential operations does not equate to a decision to initiate conflict. Military contingency planning is a routine part of defence strategy, particularly in regions with longstanding geopolitical tensions.

Any sustained military campaign would likely have broader regional implications, including potential retaliatory actions and economic consequences affecting global energy markets.

Current Status

At present:

No military strike has been formally announced.
Diplomatic discussions are ongoing.
U.S. forces in the region have increased in strength and readiness.

The situation remains fluid, with developments likely to depend on both diplomatic progress and strategic assessments in Washington.

14 February 2026 0 comment

Blog Featured World

Clashes Erupt at Milan Anti-Olympics Protest Amid Rail Sabotage Fears

by theparliamentnews.com 8 February 2026

written by theparliamentnews.com

A protest against the Winter Olympics in Milan turned violent on Saturday evening after hours of largely peaceful demonstrations, as Italian authorities simultaneously investigated a series of suspicious incidents on railway lines in northern Italy that officials fear may amount to coordinated sabotage.

The protest began in the afternoon with demonstrators marching peacefully through Milan, holding signs, chanting slogans, and moving arm-in-arm. The march was organised by the Unsustainable Olympics Committee, an activist group opposing the 2026 Winter Olympics, and drew participants from Milan, the Lombardy region, and other parts of northern Italy.

Protesters voiced opposition to the environmental impact of Olympic infrastructure projects and criticised what they described as the economic and social consequences of hosting the Games. The organisers brought together a broad coalition of grassroots sports organisations, civic and environmental movements, student groups, housing activists, trade unions, pro-Palestinian networks, and transfeminist collectives.

Demonstrators also raised broader concerns about what they described as an “authoritarian security drift” by the Italian government and its treatment of racial minorities.

Escalation near Olympic sites

The march set off from Piazza Medaglie d’Oro and proceeded toward areas near the Olympic Village, which was secured by a large police cordon. As protesters passed close to the athletes’ housing, some individuals threw firecrackers and smoke bombs in the direction of the site. Authorities said the objects could not reach the buildings due to distance and security measures.

Tensions escalated after the march diverted onto Via Benaco and reached Piazzale Corvetto. A smaller group of protesters began throwing fireworks at police officers, prompting a police charge. Protesters later targeted police vans with additional fireworks.

Police responded by deploying water cannons and tear gas to disperse the crowd. Officials noted that not all demonstrators participated in the clashes, with many remaining in the main area of the square and not engaging in violence.

No immediate reports of serious injuries were released by authorities.

Olympic opening held amid unrest

The unrest came one day after the official opening of the 2026 Winter Olympics, which was marked by a high-profile ceremony at Milan’s San Siro stadium. The event celebrated Italy’s art and cultural heritage and featured performances by Italian tenor Andrea Bocelli and American singer Mariah Carey.

Security across Olympic venues has been heightened as Italy hosts the Games, with officials emphasising the need to ensure the safety of athletes, spectators, and infrastructure.

Railway incidents under investigation

Separately from the Milan protest, authorities are investigating a series of incidents affecting railway infrastructure in northern Italy, raising concerns about possible coordinated sabotage.

In Bologna, railway services were severely disrupted on Saturday after three separate incidents of damage were discovered. According to Italy’s rail network operator Ferrovie dello Stato and the Ansa news agency, investigators found a rudimentary explosive device placed on a switch along the Bologna-Padova line.

In addition, electrical cables were cut on a high-speed railway line, while a fire was reported at an electrical cabin in the Adriatic coastal town of Pesaro.

Italy’s transport minister said the incidents appeared to be a “premeditated attack” on the railway network. Investigators have not ruled out the involvement of anarchist groups, citing similarities to acts of sabotage carried out on French rail lines during the 2024 Paris Olympics, when high-speed train services were targeted by arson and other malicious acts.

Speaking from Bormio, where he was attending the men’s downhill ski race, Infrastructure and Transport Minister Matteo Salvini condemned the incidents, describing them as an “act of delinquency.”

Authorities have not officially linked the railway incidents to the Milan protest, but investigations are ongoing as security services assess potential threats linked to the Olympic Games.

8 February 2026 0 comment

Blog Featured World

The U.S. will remove the additional 25% tariff on Indian goods from February 7

by theparliamentnews.com 7 February 2026

written by theparliamentnews.com

The United States will remove the additional 25% Tariff on Indian goods from February 7, 2026, following commitments made by India on energy imports and defence cooperation, according to an executive order issued by the White House.

The order states that, effective 12.01 a.m. EST on February 7, products of India imported into the U.S. will no longer be subject to the additional ad valorem duty of 25% imposed earlier under Executive Order 14329.

The White House said India has committed to stop directly or indirectly importing Russian oil, to purchase U.S. energy products, and to enter into a framework with the United States to expand defence cooperation over the next 10 years.

In August 2025, the U.S. had imposed reciprocal tariffs of 25% and an additional 25% levy on Indian goods, citing India’s continued purchase of Russian crude oil. The move was linked to concerns arising from Executive Order 14066, under which the U.S. declared a national emergency related to Russia’s actions.

In the latest executive order issued on Friday local time, President Donald Trump said he had received additional information and recommendations from senior officials regarding India’s efforts to address the national emergency. He stated that India had taken “significant steps” to align with the U.S. on national security, foreign policy, and economic matters.

“Accordingly, I have determined to eliminate the additional ad valorem rate of duty imposed on imports of articles of India,” the President said, adding that the decision was necessary and appropriate to deal with the national emergency declared earlier.

The executive order also cautioned that the tariffs could be reimposed if India resumes directly or indirectly importing Russian oil. It stated that, if such imports are detected, the U.S. Secretary of Commerce would recommend whether additional action, including the reimposition of the 25% duty, should be taken.

The order authorises Secretary of State Marco Rubio to take necessary actions under the International Emergency Economic Powers Act (IEEPA) to implement the decision. It also directs all executive departments and agencies to take appropriate measures within their authority to carry out the order.

The Secretary of Commerce, in coordination with the Secretaries of State and the Treasury and other senior officials, will monitor India’s compliance with the commitments outlined in the executive order.

7 February 2026 0 comment

Blog Featured Politics World

Trump Claims Iran Ready for Deal, Confirms Undisclosed Deadline

by theparliamentnews.com 31 January 2026

written by theparliamentnews.com

U.S. President Donald Trump said on Thursday that Iran is seeking to reach an agreement with the United States to avoid military action, as Washington increases military pressure in the region.

Speaking to reporters in the Oval Office on January 29, Mr. Trump said the United States has deployed a large naval force toward Iran, describing it as an “armada” larger than the one used in a recent U.S. operation in Venezuela. He suggested the show of force was intended to push Tehran toward negotiations.

“We have a large armada, flotilla, call it whatever you want, heading toward Iran right now,” Mr. Trump said. “Hopefully, we’ll make a deal. If we do make a deal, that’s good. If we don’t make a deal, we’ll see what happens.”

Mr. Trump confirmed that he has set a deadline for Iran to reach a deal covering its nuclear program, ballistic missile development, and other issues. However, he declined to specify the timeline, stating that “only they know for sure” what the deadline is.

The U.S. president said he believes Tehran is prepared to comply with American demands, pointing to what he described as Iran’s decision to halt executions of protesters following a crackdown on demonstrations. Human rights groups have previously reported that more than 6,000 people were killed during the unrest.

“I can say this, they do want to make a deal,” Mr. Trump said, citing these actions as evidence that Iran is responding to pressure.

Tensions between the United States and Iran have remained high amid longstanding disputes over Iran’s nuclear activities, missile program, and regional influence. Washington has repeatedly warned that it will not allow Tehran to develop nuclear weapons, while Iran has accused the U.S. of using military threats to force concessions.

Mr. Trump declined to comment on whether the United States would carry out a military operation against Iran if negotiations fail. When asked whether a scenario similar to the recent Venezuela operation in which U.S. forces captured President Nicolás Maduro could be repeated, he said he did not want to discuss military plans.

“I don’t want to talk about anything having to do with what I’m doing militarily,” Mr. Trump said.

The comments reflect a strategy that combines diplomatic pressure with visible military deployments. U.S. officials have previously described such moves as deterrence aimed at preventing escalation while encouraging negotiations.

Iranian authorities have not publicly responded to Mr. Trump’s latest remarks. In past statements, Tehran has said it will not negotiate under military threats and has warned it would respond to any attack.

The situation remains uncertain, with both sides maintaining firm positions. While Mr. Trump has expressed confidence that a deal is possible, the lack of publicly confirmed talks and the continued military buildup suggest that tensions could persist in the coming weeks.

31 January 2026 0 comment

Blog Featured India Sports World

India vs New Zealand, 4th T20I: India Bowl First in Vizag as Kishan Misses Out

by theparliamentnews.com 28 January 2026

written by theparliamentnews.com

Visakhapatnam | India opted to bowl first in the fourth T20I against New Zealand at Visakhapatnam on Wednesday, with captain Suryakumar Yadav citing humidity and expected dew later in the evening as key factors behind the decision.

The hosts made one change to their playing XI, bringing back left-arm pacer Arshdeep Singh in place of Ishan Kishan, who picked up a niggle in the previous match. The move signals a bowling-heavy approach, with India fielding a formidable attack featuring Jasprit Bumrah, Hardik Pandya, Arshdeep Singh, Harshit Rana, and spinners Kuldeep Yadav and Ravi Bishnoi.

“We noticed a lot of dew during practice. It felt like a good wicket, and we want to repeat our good habits and entertain the crowd,” Suryakumar said at the toss.

New Zealand captain Mitchell Santner also admitted he would have preferred to bowl first, acknowledging that dew could make conditions tricky later on. The visitors made one change as well, drafting in Zak Foulkes for Kyle Jamieson, with James Neesham and Lockie Ferguson still unavailable due to fitness concerns.

India lead the five-match series 3–0 and have already sealed it, but the contest holds significance with the T20 World Cup 2026 in mind. The spotlight remains on explosive opener Abhishek Sharma, who has been in destructive form, while Bumrah’s return to action continues to be closely monitored.

The Vizag pitch has traditionally been a high-scoring one, with India having chased down 209 at the venue in their last T20I here. New Zealand openers Tim Seifert and Devon Conway will look to give their side a solid start against a potent Indian bowling lineup.

Short Summary

India chose to bowl first against New Zealand in the fourth T20I in Vizag, opting for a bowling-heavy XI as Ishan Kishan missed out due to a niggle.

28 January 2026 0 comment

Blog Business Education & Tech Featured India World

India-EU FTA Holds ‘Special Meaning’ for António Costa Due to Indian Roots

by theparliamentnews.com 27 January 2026

written by theparliamentnews.com

New Delhi | European Council President António Costa on Tuesday recalled his deep personal connection with India, saying the landmark India-European Union Free Trade Agreement (FTA) holds “special meaning” for him due to his Indian roots.

Speaking at a joint press conference with Prime Minister Narendra Modi and European Commission President Ursula von der Leyen, Costa revealed that he is an Overseas Citizen of India (OCI) and proudly traces his family origins to Goa.

“I am the President of the European Council but I am also an overseas Indian citizen. For me, it has a special meaning. I am very proud of my roots in Goa, where my father’s family came from. The connection between Europe and India is something personal to me,” Costa said, while displaying his OCI card.

Calling the moment historic, he said the agreement marks a new chapter in India-EU relations across trade, security, and people-to-people ties. Costa also recalled that the trade negotiations were relaunched during the India-EU Leaders’ Meeting in May 2021, which he hosted in his previous role.

Costa has earlier spoken publicly about his Indian heritage. Addressing a Pravasi Bharatiya Divas event in 2017, he said his family hailed from Madgaon in Goa and that he still has relatives there.

Earlier in the day, India and the European Union formally sealed the long-awaited FTA, described as the “mother of all deals,” alongside two major agreements on security and defence cooperation and the mobility of Indian professionals to Europe.

The two sides also adopted a joint strategy document titled ‘Towards 2030 – A Joint India-European Union Comprehensive Strategic Agenda,’ aimed at deepening bilateral cooperation over the next decade.

Short Summary

European Council President António Costa recalled his Goan roots and OCI status as India and the EU sealed a historic free trade agreement in New Delhi.

27 January 2026 0 comment

Blog Education & Tech Featured India World

A potential EU–India trade deal with global impact now down to the summit.

by theparliamentnews.com 23 January 2026

written by theparliamentnews.com

The European Union is on the verge of concluding a landmark free trade agreement (FTA) with India, European Commission President Ursula von der Leyen announced on Tuesday (January 20, 2026), calling it “the mother of all deals” that could create a market encompassing nearly two billion people and about a quarter of global GDP.

Speaking at the World Economic Forum Annual Meeting in Davos, von der Leyen said negotiations are in their final stages and that Europe stands to gain a first-mover advantage with one of the world’s fastest-growing economies. “Right after Davos, I will travel to India. There is still work to do, but we are on the cusp of a historic trade agreement,” she said.

European Council President Antonio Costa and von der Leyen will visit India from January 25 to 27 to attend the Republic Day celebrations as chief guests and hold summit talks with Prime Minister Narendra Modi. The two sides are expected to formally announce the conclusion of FTA negotiations at the India-EU summit on January 27.

India is currently the EU’s largest trading partner, with bilateral trade in goods touching $135 billion in FY2023–24. The proposed agreement is expected to significantly boost trade flows, deepen supply-chain integration and open new opportunities across manufacturing, services, technology and green energy sectors.

Beyond trade, the summit is also likely to deliver major strategic outcomes. India and the EU are expected to unveil a defence and security framework, along with a comprehensive strategic vision for the 2026–2030 period. A proposed Security and Defence Partnership (SDP) would enhance defence interoperability and enable Indian firms to participate in the EU’s SAFE programme a €150 billion financial instrument aimed at strengthening European defence readiness.

Negotiations for a Security of Information Agreement (SOIA) are also expected to be launched, which would facilitate deeper industrial defence cooperation. The developments come amid global trade disruptions driven by Washington’s evolving tariff policies, which have affected both India and the 27-nation EU bloc.

India and the EU have been strategic partners since 2004. FTA talks were first launched in 2007 but were suspended in 2013 due to differences in ambition, before being relaunched in June 2022. If concluded, the deal would mark one of the most significant trade agreements for both sides in recent decades.

📌 Short Summary

The European Union is close to finalising a landmark free trade agreement with India, described by Ursula von der Leyen as “the mother of all deals.” Expected to be announced during the India-EU summit on January 27, the agreement aims to deepen trade, defence and strategic cooperation at a time of global trade uncertainty.

23 January 2026 0 comment

Newer Posts

Older Posts

World

India–Israel Ties in Focus as Modi Meets Netanyahu

IBM Stock Falls to 25-Year Low After AI Disruption Fears

Why COBOL Matters to IBM

What Anthropic Claims

What It Means for IBM

Trump Announces 15% Global Tariff Following Supreme Court Ruling

Court Ruling on Tariff Authority

Shift from 10% to 15%

Impact on Trading Partners

Political and Economic Context

US Expands Naval Presence Amid Rising Tensions With Iran

Growing Military Posture

Diplomatic Engagement Continues

Strategic Context

Balancing Pressure and Negotiation

Current Status

Clashes Erupt at Milan Anti-Olympics Protest Amid Rail Sabotage Fears

The U.S. will remove the additional 25% tariff on Indian goods from February 7

Trump Claims Iran Ready for Deal, Confirms Undisclosed Deadline

India vs New Zealand, 4th T20I: India Bowl First in Vizag as Kishan Misses Out

India-EU FTA Holds ‘Special Meaning’ for António Costa Due to Indian Roots

A potential EU–India trade deal with global impact now down to the summit.

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