"On Tuesday, the president of the European Commission Ursula von der Leyen, president of the European Council Antonio Costa and India's prime minister, Narendra Modi, announced the mother of all deals, which promises to bring together about 2 billion consumers and a quarter of the world's GDP. The agreement opens parts of India's famously protectionist domestic market with a focus on exporting manufacturing and services; in return, middle-class Indian consumers will find it cheaper to buy European cars and wine."
"The original talks had proceeded slowly over differences on cars, alcohol, agriculture and dairy and were abandoned in 2013. They were resumed in 2022 as the post-pandemic world sought to de-risk and diversify supply chains beyond China. Ironically what brought the deal to the finish line was not China but the looming shadow of Trump. In December 2024, even before the inauguration of his second presidency, the US president had spooked Europe by reviving the idea"
Trade talks between India and the EU began in 2007 and concluded nearly 20 years later with a comprehensive deal announced by Ursula von der Leyen, Antonio Costa and Narendra Modi. The agreement links roughly 2 billion consumers and about a quarter of global GDP. The deal opens parts of India’s protectionist domestic market to exports of manufactured goods and services while lowering costs for Indian consumers buying European cars and wine. The strategic agenda covers defence, security, commitments to multilateralism, mobility and broad cooperation. Original talks stalled over cars, alcohol, agriculture and dairy and were abandoned in 2013; talks resumed in 2022 to de-risk and diversify supply chains beyond China and accelerated amid geopolitical pressure tied to US policy.
Read at www.theguardian.com
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