After two decades of negotiations, how was the India–EU Free Trade Agreement finally launched?

The India–EU Free Trade Agreement is finally happening after twenty years of talking about it. This is a deal for India when it comes to trading with other countries. For a time people could not agree on things like tariffs and rules and that was a problem. The India–EU Free Trade Agreement was stuck because of these issues. Now that the India–EU Free Trade Agreement is moving forward it is a success for India and its trade diplomacy. The India–EU Free Trade Agreement will help India with its trading.

Factors Behind the Breakthrough

• he world is facing problems with global supply chains and many countries are being very protective of their own interests. This is making it very important for countries to have trade partnerships with different nations.
• The leaders of these countries are really committed to making these partnerships work. They talk to each other regularly. This has helped people see the Free Trade Agreement as a way for countries to work together, not a business deal.
• Countries have been practical when negotiating the terms of these agreements. They have been willing to make changes slowly over time. They have also made sure to protect the parts of their economies that’re very sensitive. This has helped everyone agree on the terms.

Significance

The FTA enhances market access, boosts exports, encourages investment, and reinforces India’s role in a rules-based global trading system.

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About the Author: Jyoti Verma