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Incentives To Prise India Away From Russia Likely At EU-India Trade Talks

EU

India and the European Union have formally restarted free trade agreement negotiations in Delhi today.

  • The talks have been on hold for nearly a decade and Delhi and Brussels aim to have a deal concluded by the end of 2023.
  • Sanjay Kumar Pandey at Nehru University says that the EU may offer Delhi a favourable trade deal in order to "wean away India from Russia."
  • Delhi has a strong hand in negotiations but is also seeking secure partnerships to reduce dependence on China.
  • Nikkei Asia: "The EU is India's second largest trading partner after the U.S., with the merchandise trade between the two registering an all-time high value of USD$116.36 billion in the financial year that ended in March. The total was up 43.5% on the year, according to Indian government data."
  • European Commission Executive Vice President Valdis Dombrovskis: "These far-reaching negotiations... open a new and exciting chapter in the EU-India relations."
  • The first round of talks are expected ton conclude on Friday.
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