Berliner Boersenzeitung - Shunned by US, Europe courts India over trade and security

EUR -
AED 4.100273
AFN 78.60757
ALL 98.166966
AMD 432.286638
ANG 1.997847
AOA 1023.661719
ARS 1274.492205
AUD 1.739351
AWG 2.012159
AZN 1.902168
BAM 1.95574
BBD 2.26123
BDT 136.075794
BGN 1.958829
BHD 0.422187
BIF 3332.496993
BMD 1.116315
BND 1.454255
BOB 7.738761
BRL 6.322034
BSD 1.119965
BTN 95.745041
BWP 15.144532
BYN 3.665087
BYR 21879.783696
BZD 2.24963
CAD 1.559549
CDF 3204.942189
CHF 0.935299
CLF 0.027413
CLP 1051.967484
CNY 8.048081
CNH 8.048713
COP 4704.554582
CRC 567.282465
CUC 1.116315
CUP 29.582361
CVE 110.261592
CZK 24.899757
DJF 199.433835
DKK 7.461011
DOP 65.907963
DZD 148.865399
EGP 55.928271
ERN 16.744732
ETB 151.194627
FJD 2.537725
FKP 0.842071
GBP 0.840567
GEL 3.05914
GGP 0.842071
GHS 13.887571
GIP 0.842071
GMD 80.937172
GNF 9698.700213
GTQ 8.598734
GYD 234.312757
HKD 8.722722
HNL 29.141099
HRK 7.532941
HTG 146.54547
HUF 402.867531
IDR 18412.786848
ILS 3.971538
IMP 0.842071
INR 95.543378
IQD 1467.15465
IRR 47010.84053
ISK 145.891703
JEP 0.842071
JMD 178.534481
JOD 0.791807
JPY 162.585814
KES 144.755526
KGS 97.622219
KHR 4481.861466
KMF 492.857526
KPW 1004.660245
KRW 1561.859763
KWD 0.343145
KYD 0.933371
KZT 571.02235
LAK 24221.251321
LBP 100346.698283
LKR 335.109642
LRD 223.983077
LSL 20.217275
LTL 3.29619
LVL 0.675249
LYD 6.178809
MAD 10.389879
MDL 19.509397
MGA 5019.844837
MKD 61.528098
MMK 2343.870677
MNT 4001.744803
MOP 9.015121
MRU 44.32763
MUR 51.47373
MVR 17.25866
MWK 1941.939975
MXN 21.737346
MYR 4.795735
MZN 71.336723
NAD 20.217275
NGN 1788.71739
NIO 41.208726
NOK 11.593164
NPR 153.192265
NZD 1.895112
OMR 0.429497
PAB 1.119965
PEN 4.129072
PGK 4.654856
PHP 62.294316
PKR 315.375252
PLN 4.268489
PYG 8941.723611
QAR 4.081974
RON 5.106255
RSD 117.226377
RUB 90.497203
RWF 1603.750428
SAR 4.186446
SBD 9.31055
SCR 15.922308
SDG 670.351558
SEK 10.916007
SGD 1.452108
SHP 0.877249
SLE 25.344455
SLL 23408.578004
SOS 640.080215
SRD 40.8365
STD 23105.476908
SVC 9.799697
SYP 14514.229131
SZL 20.222375
THB 37.223582
TJS 11.546543
TMT 3.912686
TND 3.376696
TOP 2.614527
TRY 43.173283
TTD 7.596765
TWD 33.732379
TZS 3021.006621
UAH 46.488763
UGX 4097.873335
USD 1.116315
UYU 46.59856
UZS 14520.55117
VES 105.163869
VND 28936.572095
VUV 135.253884
WST 3.10171
XAF 655.936725
XAG 0.034581
XAU 0.000349
XCD 3.016899
XDR 0.815775
XOF 655.936725
XPF 119.331742
YER 272.496621
ZAR 20.140152
ZMK 10048.183034
ZMW 30.104069
ZWL 359.453134
  • RBGPF

    64.5000

    64.5

    +100%

  • JRI

    0.1600

    12.9

    +1.24%

  • CMSD

    0.0472

    22.06

    +0.21%

  • CMSC

    -0.0500

    22.05

    -0.23%

  • BCC

    0.9200

    91.91

    +1%

  • SCS

    0.0000

    10.5

    0%

  • GSK

    0.4991

    37.64

    +1.33%

  • NGG

    1.2500

    71.28

    +1.75%

  • RELX

    0.5300

    54.57

    +0.97%

  • RIO

    -0.1100

    62.64

    -0.18%

  • VOD

    0.1800

    9.45

    +1.9%

  • AZN

    0.8500

    68.81

    +1.24%

  • RYCEF

    0.0200

    10.72

    +0.19%

  • BTI

    1.2700

    42.64

    +2.98%

  • BP

    0.1300

    29.76

    +0.44%

  • BCE

    -0.0700

    21.56

    -0.32%

Shunned by US, Europe courts India over trade and security
Shunned by US, Europe courts India over trade and security / Photo: Evan Vucci - POOL/AFP

Shunned by US, Europe courts India over trade and security

The EU's top team is to embark on an "unprecedented" visit to India this week, as the bloc seeks to broaden its commercial and diplomatic ties to hedge against souring relations with the United States.

Text size:

EU chief Ursula von der Leyen and her college of commissioners are to hold talks with Prime Minister Narendra Modi and his government in New Delhi during a two-day trip, starting Thursday.

The trip is the latest sign of a Brussels push to diversify ties away from the United States and position itself as a reliable partner for others looking to do business.

"In this era of intense geostrategic competition, Europe stands for openness, partnership, and outreach," von der Leyen said ahead of the trip, hailing India as one of the EU's "most trusted friends and allies".

Almost all the EU's 26 commissioners are to join the 66-year-old German politician in what the bloc's executive is billing as the first visit of its kind to the South Asian giant -- and the first outside Europe for the new college that took office in December.

It comes as US President Donald Trump has upended Brussels's traditionally close partnership with Washington, berating EU tech laws, threatening tariffs, and undercutting European allies by launching Ukraine talks with Russia's Vladimir Putin.

The European Union has been left "looking for friends" and India, the world's most populous country, is a "natural candidate", said Andre Sapir, of Brussels-based think tank Bruegel.

- Trade call -

Brussels has been working to broaden its horizons since Trump won back the White House in November.

In recent months it has announced a strengthened trade deal with Mexico, the resumption of talks with Malaysia, a new agreement with the South American bloc Mercosur and the "first-ever" EU-Central Asia summit.

It has also struck a more conciliatory note towards China, which however "remains a significant strategic challenge for Europe", said James Crabtree, of the European Council on Foreign Relations (ECFR) think tank.

"Building stronger ties with India -- a democracy with increasing global influence -- offers both greater economic opportunity and political appeal," he said.

Trade will be high on the agenda.

The EU is India's largest trading partner, accounting for 124 billion euros ($130 billion) worth of trade in goods in 2023 -- more than 12 percent of total Indian trade, according to the EU.

India's expanding market offers key opportunities for sectors ranging from defence to agriculture, automobiles and clean energy. Yet, protected by high tariffs, it currently accounts for only 2.2 percent of EU trade in goods.

Negotiations for a trade deal were relaunched in 2022 and could get a boost from a White House bent on slapping tariffs on friends and foes alike, said a European diplomat.

"The case for a free trade agreement has never been stronger," the diplomat said.

- AI and defence -

Trump feted Modi in Washington vowing to ramp up trade this month, but India is also seeking renewed relationships elsewhere as a "hedge against a newly capricious America", said Crabtree.

The European Commission's trip comes hard on the heels of a visit by British trade secretary Jonathan Reynolds aimed at restarting stalled trade negotiations.

"In the shadow of US tariff, India back to table for trade talks with UK, EU", a headline in The Indian Express daily read on Tuesday.

One of the biggest challenges for New Delhi in recent years has been creating millions of new jobs for its young and rapidly expanding skilled workforce.

India's government has for years also pushed for Europe to grant quicker visas for its businesses and students.

Cooperation on technology and artificial intelligence, where Europe and India are eager to play a larger role, will also be on the table.

So will security and defence, the EU diplomat said, adding Brussels was eager to "join forces" with New Delhi. The supply of defence equipment, enforcement of EU sanctions against Russia and peace talks over Ukraine were likely to be discussed.

India has long pursued a policy of strategic autonomy in foreign affairs.

Historically close to Russia, its traditional supplier of military hardware, it has resisted Western pressure to distance itself from Moscow following its invasion of Ukraine.

The commission's visit is not expected to result in the signing of any deal, but should pave the way for an EU-India summit to be held in India later this year.

(A.Lehmann--BBZ)