Ramesh Jaura
When India and the European Union finally inked their long-anticipated Free Trade Agreement on January 27, 2026, the fanfare barely masked the unease that had driven both sides to the table. Leaders hailed a “historic milestone,” a “new chapter,” and a “shared vision for prosperity.” Yet beneath the triumphant rhetoric, a deeper reality surfaced: this treaty was born not from a resurgence of faith in globalisation, but from its unravelling. It was shaped less by confidence than by uncertainty, less by plenty than by the fear of becoming dependent.
The agreement was signed during the State Visit of António Costa, President of the European Council, and Ursula von der Leyen, President of the European Commission, who were invited as Chief Guests for India’s Republic Day celebrations. This invitation alone carried strategic meaning. India rarely accords such honour to leaders of a regional bloc, having done so only once before with ASEAN in 2022. The spectacle of the two European leaders riding with President Droupadi Murmu down Kartavya Path and being received by Prime Minister Narendra Modi was carefully choreographed to signal that Europe had re-entered India’s strategic imagination not merely as a trading partner but as a geopolitical interlocutor.
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