EU and India finalized free trade agreement on January 27, 2023, after years of talks and decade-long pause.
Historical Context
The EU and India have pursued a comprehensive trade cooperation agreement for years. Initial talks began in 2007 but were suspended in 2013 due to lack of consensus on key regulatory areas, particularly in the automotive sector.
Resumed Dialogue
After nearly a decade of impasse, negotiations resumed in 2022. The parties successfully concluded talks on a Free Trade Agreement (FTA) on January 27, 2023.
Significance of Agreement
Although the final text remains unpublished, this agreement is already recognized as one of the most significant legal instruments in the EU’s common trade policy in recent years. The project’s scale is described as exceptional.
