Strong political push to seal FTA with India by 2025 end: EU ambassador

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European Union Ambassador to India Herve Delphin on Wednesday said that there is "strong political commitment" from both sides to conclude the revamped India-EU Free Trade Agreement by the end of 2025.

Of the 23 chapters under discussion, 11 have already been closed. Important chapters still under negotiation include market access for cars, steel, some aspects of services and investment and technical barriers to trade, Ambassador Delphin said.

"No doubt, there is a strong political commitment to conclude the FTA negotiations by the end of the year," he added.

Herve Delphin stated that a 40-member EU negotiator team is arriving in Delhi this week to resolve lingering hurdles. Current bilateral goods trade stands at approximately USD 136 billion, making the EU India's third-largest trading partner after the US and China.

Delphin emphasised that the agreement is WTO-compatible and not a zero-sum game. EU and India combined represent 25 per cent of world GDP and 25 per cent of global population, he said, describing the partnership as a long-term strategic investment rather than short-term portfolio play.

We are investing in the great potential of India because we also value India as a shaper of the future world order, he emphasized. On people-to-people ties, he revealed that Indians are the largest beneficiaries of the EU Blue Card scheme for skilled workers, with around 21,000 Indian professionals availing the facility.

Indian migrant numbers in the EU have risen ten-fold since the 1990s to reach 8,20,500 by the end of 2023, reflecting growing interdependence.

"There's been a tenfold increase in the number of Indian migrants in the EU since the 90s. So now it's about 820,500 by the end of 2023 and I'm pretty sure if we add figures for 2024 and 25 we end up on the higher end. And the main drivers of this migration is employment and education" the ambassador said.

The ambassador stated that India and EU are also discussing a comprehensive framework for mobility.

Launched in 2007 as the EU-India Broad-based Trade and Investment Agreement (BTIA), negotiations faltered in 2013 over contentious issues like tariffs on dairy and automobiles, and intellectual property rights.

Revived in June 2022 following high-level engagements, the pact now aims to boost bilateral trade, currently valued at around USD 136 billion.