EU and India to finalize landmark trade agreement details soon

India and the European Union have signed a major trade agreement, dubbed the “mother of all trade deals”. The deal comes months after the United States imposed tariffs on both countries.

The terms of the agreement were not disclosed. However, it is reported that the deal includes provisions for increased trade between India and the EU in various sectors. The agreement also aims to promote economic cooperation and investment between the two parties.

In a recent interview, Brahma Chellaney, professor emeritus at the Centre for Policy Research in New Delhi, discussed the implications of the US tariffs on India and the EU. Remi Bourgeot, associate fellow at the French Institute for International and Strategic Affairs in Paris, also weighed in on the impact of Washington’s unpredictable measures.

Dhananjay Tripathi, senior associate professor at South Asian University in New Delhi, noted that the agreement is likely driven by a desire to counterbalance US influence. The EU has been seeking to strengthen its economic ties with India and other emerging markets, while also promoting its own trade interests.

The signing of this major trade deal marks an important development in the complex web of international trade relationships. Further details on the terms and implications of the agreement will be available as they become known.

Source: Al Jazeera