Ursula von der Leyen’s sartorial diplomacy shines during India visit

by Hansraj Agrawal | Jan 28, 2026 | Business

In this image posted on Jan. 27, 2026, Prime Minister Narendra Modi with European Commission President Ursula von der Leyen, in New Delhi.

It’s not just the presence of European Commission President Ursula von der Leyen in India that is making news, but the elegant wardrobe she chose for her public engagements in Delhi is also creating headlines.

As a chief guest, the European Union (EU) leader attended the 77th Republic Day celebrations on Monday in a maroon and gold silk brocade ‘bandhgala’.

President Droupadi Murmu receives European Council President António Costa and European Commission President Ursula von der Leyen for the banquet hosted in their honour, at Rashtrapati Bhavan in New Delhi on Tuesday.
| Photo Credit: @rashtrapatibhvn X/ANI Photo

On Tuesday, as India and the EU sealed a landmark free trade agreement billed as “mother of all deals”, she delivered a joint press statement, as also a subtle sartorial statement, attired in a refined blue outfit paired with white trousers, at the iconic Hyderabad House here.

Prime Minister Narendra Modi with European Council President Antonio Costa, left, and European Commission President Ursula von der Leyen, right, during their meeting at the Hyderabad House, in New Delhi, Tuesday, Jan. 27, 2026.
| Photo Credit: Salman Ali/PTI

In her address, von der Leyen thanked Prime Minister Narendra Modi for the “exceptional hospitality we experienced” in India.

Lasting Memory

“This is a memory I will carry for a lifetime, because the sense of communion was so powerful,” the EU chief said, recalling her experience of attending the ceremonial parade on Monday.

In this screengrab from a video posted on Jan. 26, 2026, Prime Minister Narendra Modi, centre, with President of the European Commission Ursula von der Leyen, left, and President of the European Council Antonio Costa during the 77th Republic Day Parade, at Kartavya Path, in New Delhi.
| Photo Credit: @NarendraModi/YT via PTI Photo

In her remarks, she also mentioned about the Makar Sankranti festival celebrated on January 14.

“As we conclude this 16th Summit, let me reflect on another event of deep meaning. Two weeks ago, India marked Makar Sankranti. It is the beginning of Uttarayan, the sun’s northward journey. From darkness to light. From stillness to growth. From what was to what can be. That is what makes our Summit so unique and timely,” the EU chief said.

“The time is ripe for renewal. For fresh momentum. And for opening a new chapter in EU-India friendship. And this is exactly what we have achieved today, together,” she asserted.

The EU chief and Antonio Costa, President of the European Council, were the chief guests for this year’s Republic Day event held on the Kartavya Path.

President Droupadi Murmu and the chief guests arrived at the venue in a traditional buggy that was escorted by the President’s Bodyguard.

As she stepped off the buggy, the intricate design and craftsmanship of her wardrobe, evident in its floral motifs, gently shimmered under the winter sun, lending the couture a ceremonial grace.

On Tuesday, the EU chief began her engagements with a visit to the Mahatma Gandhi memorial at Rajghat, along with Costa.

She wore the exquisite blue outfit, endowed with rich embroidery work, on the occasion, as well as for attending delegation-level talks at the Hyderabad House, and later an India-EU Business Forum at the Bharat Mandapam.

Fashion Recognition

The EU chief’s sartorial choices for attending events in India have also caught the attention of the Fashion Design Council of India (FDCI).

In a post on social media, including Facebook and Instagram, the FDCI termed it a “proud moment for Indian fashion” on the global stage.

President Droupadi Murmu with Vice President C.P. Radhakrishnan, Chief Guest President of the European Council António Luís Santos da Costa, President of the European Commission Ursula von der Leyen, Prime Minister Narendra Modi and Defence Minister Rajnath Singh during the national flag hoisting at Kartavya Path on the occasion of the 77th Republic Day celebrations, in New Delhi on Monday
| Photo Credit: DPR PMO/ANI Photo

Industry Voice

“During her historic visit to India, European Commission President Ursula von der Leyen is seen in creations by celebrated Indian designers Rajesh Pratap Singh and Anamika Khan, celebrating the depth, dignity, and global resonance of Indian design and craftsmanship,” the FDCI posted on Instagram.

The post also carried a quote of its chairman, Sunil Sethi, and hashtags such as ‘IndianFashion’, ‘RajeshPratapSingh’, ‘AnamikaKhanna’, ‘IndianDesign’, ‘Craftsmanship’, ‘TextileHeritage’, ‘FashionDiplomacy’ and ‘GlobalStage’.

“It fills us with immense pride to witness European Commission President Ursula von der Leyen donning the creations of Indian designers for such a historic visit.

“Her appropriate choice was not just a statement of style, but a homage to the extraordinary talent of Indian craftsmen and weavers whose artistry tells the story of our heritage on the world stage,” Sethi said.

Published on January 28, 2026

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India-EU trade pact: ‘Roadmap for access to innovative drugs, but concerns remain on IP’

by Hansraj Agrawal | Jan 27, 2026 | Business

‘Trade pact to improve access to innovative medicines in India, even as it “reinforces” intellectual property (IP), as recognised under international trade laws’

Domestic drugmakers expect the India-European Union trade pact to improve access to innovative medicines in India, even as it “reinforces” intellectual property (IP), as recognised under international trade laws.

But public health and treatment activists are concerned on the IP front, and called for a release of the full text of the agreement for public scrutiny, and for it to be placed before Parliament for a discussion before sealing the pact.

Europe is a significant market (about $5.8 billion) for the Indian pharmaceutical industry, Sudarshan Jain, Indian Pharmaceutical Alliance’s (IPA) Secretary General told businessline. “Indian companies play a critical role in supplying quality-assured, affordable medicines to Europe,” he said, and the removal of EU tariffs of up to 11 per cent on pharmaceuticals would enhance trade and support access to innovative medicines for Indian patients.

“The agreement reinforces the intellectual property framework under the TRIPS (Trade-Related Aspects of Intellectual Property Rights) Agreement and the Doha Declaration,” said the IPA, a platform for drugmakers including Sun Pharma, Cipla, Lupin, Zydus and Torrent Pharma. “We look forward to reviewing the detailed text of the agreement to assess its broader implications for the pharmaceutical industry,” IPA said.

The Doha Declaration allows countries to invoke provisions to make an innovative drug available to its people, in case of a public health emergency. Public health workers, though, are reading hte fine print to understand India’s position on IP issues including data exclusivity and extension of the period of patent protection, among other things.

IP concerns

The Working Group on Access to Medicines and Treatment, however, expressed concern on the European Commission’s communique that said the agreement provided for a “high level of protection and enforcement of Intellectual Property (IP) rights, including copyright, trademarks, designs, trade secrets and plant variety rights.”

This demonstrates that “India has agreed to IP protection and enforcement standards” that go beyond the minimum obligations under the TRIPS Agreement, they said. The EC press release does not mention “patent related provisions, nor does it clarify whether the agreement includes controversial TRIPS-plus measures such as patent term extensions, pharmaceutical data exclusivity, or other forms of market exclusivity for medicines,” the advocacy group said.

“India plays an important role as a supplier of affordable generic medicines to low- and middle- income countries. Any weakening of its patent laws or regulatory framework through FTAs risks having an impact not only patients in India, but millions worldwide who depend on Indian generic production,” it added.

Concerned at the lack of clarity, the advocacy group pointed out: “We recall that when negotiations were relaunched in 2022, the European Union’s proposed IP text explicitly sought patent term extension and data exclusivity protection for pharmaceutical products.” They urged the Indian government to clarify and ensure “the final text does not include any TRIPS-plus provisions, particularly patent term extensions and data exclusivity, which would compromise the availability of affordable medicines.”

Published on January 27, 2026

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यूरोप के उच्च क्षमता वाले बाजार में व्यापार-निवेश के खोलेगा रास्ता:इंडिया EU FTA पर उद्योग

by Hansraj Agrawal | Jan 27, 2026 | Business

India EU Free Trade Agreement: भारत और यूरोपीय संघ (ईयू) के बीच हुए मुक्त व्यापार समझौते (एफटीए) को उद्योग जगत ने भारत के लिए एक ऐतिहासिक और दूरगामी कदम बताया है. यह समझौता 27 देशों वाले यूरोपीय संघ जैसे बड़े और समृद्ध बाजार में भारत के लिए नए व्यापार, निवेश और तकनीकी सहयोग के अवसर खोलेगा. उद्योग संगठनों का मानना है कि इससे न केवल भारत के निर्यात को मजबूती मिलेगी, बल्कि भारतीय कंपनियों की वैश्विक मूल्य श्रृंखलाओं में भागीदारी भी बढ़ेगी. भारत और ईयू ने मंगलवार को इस एफटीए पर बातचीत के समापन की घोषणा की, जिसे वैश्विक व्यापार परिदृश्य में भारत की एक बड़ी उपलब्धि माना जा रहा है.

एफटीए साबित होगा गेमचेंजर

सीआईआई के महानिदेशक चंद्रजीत बनर्जी ने इसे भारत के वैश्विक व्यापार के लिए “गेम चेंजर” करार देते हुए कहा कि यह समझौता दो बड़े लोकतंत्रों और अर्थव्यवस्थाओं के बीच साझेदारी को और मजबूत करता है, जो मिलकर वैश्विक जीडीपी का लगभग 25 प्रतिशत योगदान देते हैं. उन्होंने कहा कि भारत के 99 प्रतिशत से अधिक निर्यात को यूरोपीय संघ में प्राथमिक और रियायती पहुंच मिलना भारतीय उद्योग के लिए बेहद अहम है. इससे वस्त्र, परिधान, चमड़ा, जूते, रत्न एवं आभूषण, समुद्री उत्पाद, इंजीनियरिंग सामान, वाहन, कृषि और प्रसंस्कृत खाद्य उत्पादों के साथ-साथ आईटी और पेशेवर सेवाओं के निर्यात को बड़ा बढ़ावा मिलेगा.

फिक्की के अध्यक्ष अनंत गोयनका ने भी कहा कि यूरोपीय संघ भारत के हालिया मुक्त व्यापार समझौतों में सबसे बड़ा और संभावनाओं से भरा बाजार है. भारत-ईयू एफटीए से अब तक अप्रयुक्त रहे व्यापार और निवेश के बड़े अवसर खुलेंगे, जिससे बाजार तक पहुंच आसान होगी, उद्योगों के बीच तालमेल मजबूत होगा और उच्च मूल्य वाले विनिर्माण क्षेत्रों में भारत की प्रतिस्पर्धात्मक क्षमता बढ़ेगी. यह समझौता “विकसित भारत” के लक्ष्य की दिशा में एक अहम कदम साबित हो सकता है.

मेडिकल सेक्टर में नया अध्याय

स्वास्थ्य क्षेत्र के संदर्भ में मेडिकल एसोसिएशन ऑफ इंडिया के चेयरमैन पवन चौधरी ने कहा कि यह समझौता स्वास्थ्य सेवाओं में सहयोग का एक नया अध्याय शुरू कर सकता है. यदि इसे घोषित नियमों के अनुसार लागू किया गया, तो भारत मेडिकल टेक्सटाइल, सर्जिकल उपकरण और डिस्पोजेबल उत्पादों के निर्यात को बढ़ा सकेगा. इससे न केवल भारतीय कंपनियों को लाभ होगा, बल्कि वैश्विक स्तर पर भारत की पहचान एक भरोसेमंद और नवाचार-आधारित साझेदार के रूप में मजबूत होगी.

वाहन उद्योग की ओर से सियाम के अध्यक्ष और टाटा मोटर्स पैसेंजर व्हीकल्स के एमडी एवं सीईओ शैलेश चंद्रा ने कहा कि भारत-ईयू एफटीए घरेलू उत्पादन और बाजार तक पहुंच के बीच संतुलन बनाते हुए वाहन क्षेत्र में निवेश, रोजगार और वैश्विक भागीदारी को बढ़ावा देगा. इससे उपभोक्ताओं को भी दोनों क्षेत्रों में अधिक विकल्प मिलेंगे. वहीं, भारती एंटरप्राइजेज के चेयरमैन सुनील मित्तल ने भरोसा जताया कि यह समझौता डिजिटल इंफ्रास्ट्रक्चर और अंतरिक्ष क्षेत्र में सहयोग के नए अवसर खोलेगा और यूरोपीय निवेशकों को भारत के साथ मिलकर वैश्विक बाजारों में विस्तार का मौका देगा.

केयरएज रेटिंग्स की मुख्य अर्थशास्त्री रजनी सिन्हा ने इस बात पर जोर दिया कि भारत ने इस समझौते में अपने संवेदनशील कृषि और डेयरी क्षेत्रों की सुरक्षा का विशेष ध्यान रखा है. आंकड़ों के मुताबिक, भारत और ईयू के बीच वस्तुओं का द्विपक्षीय व्यापार 2024-25 में 136.53 अरब डॉलर रहा, जिसमें भारत का निर्यात 75.85 अरब डॉलर और आयात 60.68 अरब डॉलर था. कुल मिलाकर, यह एफटीए भारत के लिए व्यापार, निवेश, रोजगार और तकनीकी सहयोग के नए द्वार खोलने वाला एक निर्णायक समझौता माना जा रहा है.

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Global steel production dips 2% in 2025

by Hansraj Agrawal | Jan 27, 2026 | Business

Global crude steel production nosedived by 2 per cent at 1,849.4 million tonnes (mt) in 2025 when compared with 1,886.8 mt in 2024. China, the top producer, saw a drop of 4.4 per cent at 960.8 mt in steel production while India recorded an increase of 10.4 per cent in its output at 164.9 mt. US produced about 82 mt of steel, up 3.1 per cent.

In December 2025, the total world steel production plummeted 3.7 per cent to 139.6 million mt against 144.5 mt in the corresponding period a year ago.

China’s output was down 10.3 per cent at 68.2 mt in December, while India produced 14.8 mt of steel– an increase of 10.1 per cent.

When the US’s steel output saw a jump of 3.6 per cent to 6.9 mt, Japan’s steel production dipped 4.8 per cent to 6.6 mt. Russia’s steel production went south by 4.4 per cent at 5.8 mt. South Korea also saw a drop in its production at 5.2 mt, down 2.4 per cent and Iran’s output stands at 3 mt, a 16.2 per cent increase over corresponding years production. Türkiye’s output soared by 18.5 per cent to reach 3.5 mt while Germany’s steel production went down a tad by 0.2 per cent at 2.7 mt. Brazil produced 2.6 mt of steel, down 1.9 per cent.

Region wise, Africa saw its output plunged 0.3 per cent year-over-year at 1.9 mt in December 2025. Asia and Oceania’s steel production decreased by 6.3 per cent at 99.7 mt while the EU (27) saw its output go north by 3.9 per cent at 9.9 mt. Europe(Other) produced 3.8 mt of steel, an increase of 13.8 per cent. The West Asia saw its figures go up by 13.9 per cent at 5.3 mt and North America’s output surged 0.4 per cent at 9 mt. Russia & other CIS + Ukraine’s steel production slipped 2.7 per cent at 6.9 mt while South America produced 3.2 mt of steel, up 1.2 per cent.

Published on January 27, 2026

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G-Sec yield spike: RBI advances OMO purchase auctions

by Hansraj Agrawal | Jan 27, 2026 | Business

The Reserve Bank of India (RBI) has advanced the scheduled open market operation (OMO) purchase auctions of Government securities (G-Secs) to infuse liquidity aggregating ₹1 lakh crore.

This comes in the wake of a spike in G-Sec yields and the banking system’s liquidity surplus not being sufficient. On 26 January, the liquidity surplus in the banking system was only at ₹56,987 crore. Usually, the surplus should be in the ₹1.50-2.00 lakh crore range.

The OMO purchase auction of G-Secs in two tranches of ₹50,000 crore each will now be conducted on 29 January 2026 and 5 February 2026 instead of 5 February 2026 and 12 February 2026.

The yield of the benchmark 10-year G-Sec (6.48 per cent GS 2035) jumped 6 basis points to close at 6.72 per cent, an 11-month high, against the previous close of 6.66 per cent. In price terms, this G-Sec declined about 42 paise.

Nuvama Wealth, in a report, noted that despite the RBI’s monetary policy committee reducing the repo rate cumulatively by 125 basis points since February 2025 to 5.25 per cent, the 10-year G-Sec yield has remained elevated.

This comes on the back of a weak rupee and uncertainty over the India-US trade deal, and news that Bloomberg Index Services would delay inclusion of India’s fully accessible route bonds in its flagship Global Aggregate Index.

Nuvama observed that the banking system’s liquidity fluctuated throughout FY26, driven by rupee depreciation, advance tax outflows and regular GST-related drain.

The report said this week’s overhang of bond supply, including G-Secs and state development loans, has kept the overall bond market sentiments bearish.

Published on January 27, 2026

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Motilal Oswal net up 58% at ₹721 crore

by Hansraj Agrawal | Jan 27, 2026 | Business

Motilal Oswal Financial Services Ltd reported a profit after tax (PAT) (incl. treasury & OCI) of ₹721 crore, up 58 per cent y-o-y. This was led by strong growth in asset and private wealth management business, the company said. For the corresponding period last year, the brokerage posted a net profit of ₹456 crore.

Total revenue improved 11 per cent to ₹1,497 crore (₹1,345 crore). The board of directors declared an interim dividend of ₹6 a share.

The company said it has recorded highest-ever operating profit after tax of ₹611 crore for the quarter ended December 2025, which grew 16 per cent y-o-y and 10 per cent q-o-q.

Total assets under management grew by 33 per cent YoY to ₹1.89 lakh crore, driven by stellar mutual fund AUM growth of 40 per cent and Private Alternates AUM growth of 62 per cent. SIP inflows surged 55 per cent YoY to ₹4,515 crore, with highest market share at 5 per cent. IBEF V (India Business Excellence Fund V), launched in Q2, did a cumulative fund raise of ₹8,000 crore and expects final close in Q4. “We have also launched our maiden Private Credit Fund in Jan’26 with a target fund size of ₹3,000 crore,” the company further said.

Published on January 27, 2026

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