Relevance : GS Paper III
Introduction
Amid U.S.-China trade war, India needs to pursue a FTA with EU.
Time to engage with EU
- Without preferential FTA tariffs or GSP+ status, India will struggle to keep exports competitive for Europe.
- Beyond mere economic cost-benefit analysis, India must also approach an EU FTA from a geo-strategic perspective.
- India should leverage upon the collapse of the Transatlantic Trade and Investment Partnership and EU concerns about excessive economic reliance on China.
- India’s governance framework shares the European norms of democratic transparency in technological domains such as AI.
Conclusion
India must go beyond security and begin with the business of trade and technology with EU.
