There is a sense of déjà vu in the air. Of times not too far back, in 2019, when there were passionate debates about the pros and cons of free trade agreements in the context of the ongoing Regional Comprehensive Economic Partnership (RCEP) talks. Of whether India should or should not. Till finally and dramatically, India on the occasion of the signing ceremony of the mega-free trade agreement stepped back.
The trigger now is the recently concluded India-EU Leaders meeting when amongst other things the leaders "welcomed the decision to resume negotiations for balanced and comprehensive free trade and investment agreements."
There is a commitment to achieve the early conclusion of both the agreements together. And a belief that this "will enable the two sides to realize the full potential of the economic partnership." The focus of this article is on the proposed free trade agreement.
EU is an important trading partner of India. More than 11 percent of India’s trade is with the EU -- 14 percent of India’s exports go to the EU.