India’s Trade Relations with the EU and Global Supply

• India-US trade relations remain uncertain with a 50% tariff on exports to America and little clarity over the broader trade deal.

• India is moving ahead with its trade talks with the EU, with Prime Minister Narendra Modi and European Union leaders announcing an “early conclusion” of the India-EU Free Trade Agreement.

• Top EU negotiators are slated to visit India to resolve contentious issues of the trade deal.

• The EU is a large market with bilateral trade in goods and services standing at $137.41 billion in 2023-24.

• Negotiations on the agreement have already taken place, with 11 chapters concluded.

• Delhi is seeking concessions similar to those received by the US and aims to conclude negotiations by the end of this year.

• The relationship between India and the EU is deepening beyond just trade, with the EU Commission unveiling a strategic agenda roadmap document on September 17.

• India must seek greater integration with supply chains running through East and Southeast Asia and evaluate the benefits of joining trade agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

India EU economic ties is important topic for Civil service exam (WBCS).

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