Key Points

External Affairs Minister S Jaishankar revealed India and the EU are pushing to conclude their long-pending Free Trade Agreement by December 2024. Half the negotiation chapters have already been finalized, with trade ministers holding frequent meetings to expedite the process. The minister highlighted growing strategic convergence between India and Europe, including potential defence and space collaborations. This comes during Jaishankar's three-nation European tour celebrating 25 years of India-France strategic partnership.

Key Points: Jaishankar Says India EU FTA Talks Target Year-End Completion

  • Jaishankar confirms 50% FTA chapters finalized
  • Defence and space partnerships with EU progressing
  • Trade ministers held 3 meetings in 6 weeks
  • Connectivity key to de-risking global economy
3 min read

India, EU keen to complete FTA by end of this year: Jaishankar

India and EU aim to finalize Free Trade Agreement by 2024 end, with half chapters already closed, says EAM Jaishankar during France visit.

"We have set the goal of trying to complete it by this year - S Jaishankar"

Marseille, June 13

External Affairs Minister S Jaishankar said on Friday that India and EU have set the goal of trying to complete the Free Trade Agreement by end this year and noted that the negotiators and the stakeholders are reacting to a global environment where the importance of doing this FTA has become much more.

Jaishankar, who is in France as part of his three-nation visit, said India also seeks to conclude a defence and security partnership with the European Union.

"We are putting so much focus on Europe because we can see a quantum jump into multipolarity. There's a realisation in Europe that a lot of its problems and solutions will have to be analysed and thought through by Europe itself. Today's Europe is more self-aware, self-reliant and strategically autonomous, and will want to look for partners who can work with Europe in that respect... That gives an additional impetus to India-Europe relations, which were evolutionary, but I predict a very sharp acceleration in that," he said

"In Brussels, we made strong progress in our Free Trade Agreement negotiations. We seek to conclude a defence and security partnership with the European Union. We are looking at a space agreement. We have individual agreements with the states of Europe on talent mobility. We are now trying to see if we can get across an understanding across the entire Union... There is a lot of discussion about connectivity because if you're going to do more business and we're all trying to de-risk and stabilise the global economy, connectivity is very much part of that conversation," he added.

He spoke about the progress in FTA negotiations.

"We have set the goal of trying to complete it by this year. I'm told that half the chapters are done, and for the remaining half, considerable progress has been made. Our trade ministers have met 3 times in the last 6 weeks. We will see another round of meetings by the end of this month. There is a certain urgency and energy that is different. The negotiators and the stakeholders are reacting to a global environment where the importance of doing this FTA has become much more," he added.

India and France have completed 25 years of strategic partnership. The bilateral relations with France are rooted in deep trust and commitment, and the two countries cooperate closely across all domains of strategic and contemporary relevance besides sharing similar outlook on many regional and global issues.

- ANI

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Reader Comments

Here are 6 diverse Indian perspective comments for the article:
R
Rajesh K.
This FTA is long overdue! With global supply chains shifting, India needs strong economic partnerships with Europe. Hope our negotiators ensure fair terms for Indian farmers and small businesses. 🇮🇳🤝🇪🇺
P
Priya M.
While FTAs are good, I hope we don't compromise on data privacy and digital sovereignty. European standards are high, but we must protect Indian interests first. The defence partnership sounds promising though!
A
Amit S.
Finally some good news! As an IT professional, I'm particularly excited about the talent mobility agreement. Europe could be a great alternative to US for Indian techies if visa norms become easier. 🤞
N
Neha T.
The strategic autonomy angle is interesting. With Europe wanting to reduce China dependence, India has a golden opportunity. But we must ensure our manufacturing sector is ready to compete globally.
S
Sanjay V.
I'm cautiously optimistic. Previous FTAs haven't always benefited India equally. Hope this time our negotiators have learned from past experiences. The December deadline seems ambitious but achievable.
K
Kavita R.
The space agreement mentioned is exciting! India's ISRO has proven capabilities and European collaboration could take our space program to new heights. More jobs for Indian scientists and engineers! 🚀

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