The EU-India FTA deal are close to final

• India and the EU are aiming to finalize a free trade agreement by the end of the year.
• Talks over the years have faltered with areas such as agriculture, pharmaceuticals and vehicles becoming stumbling blocks.
• “The EU and India have the potential to be one of the defining partnerships of this century,” said European Commission President Ursula von der Leyen.

NEW DELHI : India and the European Union are pushing to finalize a Free Trade Agreement by the end of the year.

The agreement would be “the largest deal of this kind anywhere in the world,” said European Commission President Ursula von der Leyen. Moreover, inking the deal would mark the end of years-long negotiations.

The final push comes as both India and the EU look to limit the impact of increasing fragmentation, protectionism and trade tariffs around the world. A deal could help mitigate the economic risks of rising geopolitical tensions.

“We both stand to lose from a world of spheres of influence and isolationism. And we both stand to gain from a world of cooperation and working together,” said von der Leyen in a speech while visiting India at the end of February.

Von der Leyen met Indian Prime Minister Shri Narendra Modi in New Delhi to discuss the agreement. Modi said decisions were taken to “elevate and accelerate India-EU partnership”, with “trust and shared belief in democratic values” at its core.