The European Union ambassador in India Hervé Delphin said that India and the EU had a “strong determination” to conclude the free trade agreement and that the two parties continue “high-level political commitment”. The commercial pact aims to deepen the economic ties between India and the European Union, two of the largest markets in the world. Comments from the EU EU’s High Diplomat occur at a time when US President Donald Trump plans to give details on his reciprocal prices, which, according to many, may have a considerable impact on the current world trading order. Ambassador Delphin stressed that “the global environment accelerates negotiations” and that “the” reciprocal prices by us strengthen the justification for an India-UE FTA, but he will not define them “.
Negotiations for an Indian-EU Ale began in 2007, but were blocked in 2013 due to differences on issues such as market access, intellectual prices and property rights. The talks resumed in 2021 and obtained a major political push during the visit of India of the president of the European Commission Ursula von der Leyen in February with her cabinet (college), when the two parties announced that they were planning to conclude it by the end of this year. The EU is already the largest trading partner in India against goods, bilateral trade reaching 124 billion euros (130 billion dollars) in 2023, and the services trade adding $ 45 billion ($ 47 billion).
“We would like to see the fruits of the harvest by the end of the year and the next summit of India. He added:” The EU FTAs are entirely in accordance with the WTO. They are positive and respected in the long term. “The summit of India with the EU will take place later this year in India, even if Brussels and Delhi are closer to diversifying new markets. The two parties held the 10th round of the Ale talks in March in Brussels while they worked to address key requests and respective sensitivities. world, covering a market of more than 1.8 billion people.
Giving his assessment on talks, he said: “India-EU has made good progress in recent tricks on certain aspects. Discussions continue on the elements of a significant trade that would be mutual advantage”. One of the key elements provided under the ALE is to promote EU investments in India manufacturing and infrastructure, and Indian investments in the technology and energy sectors in Europe. The ambassador underlined: “EU companies in general wish to make investments in India. Taking technical obstacles would be an important incentive for them to intensify their level of investment. And an ALE would be an accelerator for this.”
While the ALE is considered to be a daring geopolitical movement, the two parties got closer to considerably increase cooperation in clean, semiconductor, defense and security technology. The Indian Council-EU Trade and Technology (TTC) is considered a key to this, because it improves trade, strengthens the supply chain, emphasizes semiconductors, AI, technologies among others.
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