Following their presence as Chief Guests at yesterday’s Republic Day parade, European Commission President Ursula von der Leyen and European Council President António Costa joined Prime Minister Narendra Modi to finalize the deal.

• The Scale: The agreement creates a trade corridor representing 25% of global GDP.
• Key Wins for India: Drastic tariff reductions for Indian textiles, leather, and gems, alongside easier visa access for Indian professionals in the services sector.
• Key Wins for the EU: Improved access to India’s massive automotive market and a “workaround” for the EU’s carbon border adjustment mechanism through easier access to steel scrap.
• Geopolitical Strategy: The deal is being hailed as a “Strategic Agenda for 2026-2030,” aimed at stabilizing global supply chains in a multipolar world.

🗞️ Other Major Headlines Today

If you are following other sectors, here is what’s breaking:

• 🏦 Finance: Nationwide Bank Strike Underway Banking services across India are facing major disruptions today. The United Forum of Bank Unions (UFBU) is striking to demand the immediate implementation of a five-day work week, a move that follows a three-day holiday weekend.
• 🇬🇧 Diplomacy: Starmer’s High-Stakes China Trip UK Prime Minister Keir Starmer lands in Beijing today. It’s the first visit by a British leader in eight years, aimed at “resetting” ties while navigating tensions with the U.S. over trade and security policies.
• 🕊️ Middle East: Gaza Ceasefire Reaches “Tricky New Phase” After the remains of the final Israeli hostage were recovered yesterday, negotiations have shifted toward the permanent reopening of the Gaza-Egypt border and the deployment of international security forces.
• ⛈️ Weather: US Winter Crisis A severe storm has left over 800,000 people without power from Texas to New England, with thousands of flights canceled as the “deep freeze” moves East.