“It would be a very good story for our agricultural sector. I think we want to open a completely new chapter in the field of cooperation in the automobile and machinery sector,” EU trade chief Maroš Šefčovič told POLITICO.
On trade in services, the trade chief said sectors such as telecommunications, maritime and financial services are expected to benefit.
“This is once again an area where India is taking revolutionary steps towards new levels of cooperation, as we are the first country with which it is ready to consider this cooperation,” he said.
The conclusion of the negotiations came as EU leaders paid a three-day visit to India for a summit aimed at strengthening trade and defense ties between New Delhi and Brussels.
While negotiations between the two sides have been on-and-off since 2007, the deal comes at an ideal time as New Delhi and Brussels battle high U.S. tariffs and cheap goods from China.
About The Author
