European Commission President Ursula von der Leyen announced in New Delhi on Friday, February 28, that India and the European Union are pushing to conclude negotiations on a groundbreaking free trade agreement (FTA) within the year.
High-Level Delegation in New Delhi
Leading a 27-member delegation to India’s capital, von der Leyen underscored the mutual commitment of both parties. “A free trade agreement between the EU and India would be the largest deal of its kind anywhere in the world,” she remarked, acknowledging that while the process will be challenging, decisive timing and determination are key to its success.
Accelerated Negotiation Efforts
Negotiations, which resumed in June 2022, are being fast-tracked to meet an ambitious deadline. Von der Leyen emphasised that this agreement is not only timely but also critical for boosting bilateral economic ties. “We have agreed with Prime Minister Narendra Modi to push to get it done during this year, and you can count on my full commitment to make sure we can deliver,” she stated confidently.
Strategic Partnership for Global Trade
The proposed FTA is expected to deepen economic collaboration between the EU and India, potentially setting a new standard for international trade agreements. Both sides view the deal as a strategic opportunity to enhance market access, promote investment, and drive sustainable growth in an increasingly interconnected global economy.
As discussions continue, both the EU and India remain focused on overcoming obstacles to finalize this historic deal. The outcome of these negotiations could reshape global trade dynamics, reinforcing the importance of strategic partnerships in today’s rapidly evolving economic landscape.
Von der Leyen’s announcement highlights a significant step forward in EU-India relations. With strong political will and dedicated efforts from both sides, the prospect of finalising one of the world’s largest free trade agreements within this year appears increasingly within reach.
