India and the European Union have once again embarked on an ambitious journey. Both understand the need for urgency in reaching their destination. But the path towards that end game remains a tumultuous one despite a new momentum in their bilateral engagement. This is a moment to seize and make the most of when it comes to India-EU trade ties and policy makers on both sides seem well aware of what’s at stake. Yet few would be willing to bet even now that a free trade pact (FTA) can be reached without any glitches.
Last month, after a hiatus of more than eight years, India resumed negotiations with the 27 nation bloc on the long in the making FTA, that involves agreements on trade, investments and Geographical Indications (GI). This first round concluded on July 1 and the next round is slated to begin in Brussels in September. The two sides are aiming for “broad-based, balanced, and comprehensive” negotiations “based on the principles of fairness and reciprocity.”
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