The bilateral deal focuses on trade liberalisation while encouraging diversified supply networks to mitigate mounting geopolitical risks. In addition to the trade pact, progress on an investment protection agreement aims to raise European investor confidence, generate employment, and channel capital into India. The strategic relationship is set to broaden into defence, covering cybersecurity, research collaboration, and information sharing to support a free and open Indo-Pacific.
Key points
The bilateral pact seeks to mitigate geopolitical vulnerabilities by encouraging both eco…: The bilateral pact seeks to mitigate geopolitical vulnerabilities by encouraging both economies to diversify their supply networks.
Strategic cooperation will broaden into defence sectors, highlighting research partnershi…: Strategic cooperation will broaden into defence sectors, highlighting research partnerships, cybersecurity, and enhanced information sharing.
Both partners are aligning their foreign policy efforts to support and maintain a free an…: Both partners are aligning their foreign policy efforts to support and maintain a free and open Indo-Pacific region.
Sources checked by our analysis pipeline: 1
Prime Minister Narendra Modi is expected to travel to Brussels for the official signing ceremony in December, McAllister told TOI in an interview.
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The "mother of all deals" will undergo rigorous scrutiny by the European Parliament, but the lawmaker said he was confident of smooth ratification, given the benefits it would bring to both sides. McAllister led an EU Parliamentary delegation to India this week.
"Though Parliament cannot amend the text of the agreement, our consent is required before it enters into force. I followed the debate in the European Parliament over the past months, and I can say there seems to be a broad majority support for this landmark FTA. The benefits for both sides are so huge that I'm sure the European Parliament will give its support in the consent vote," he said.
FTA to deepen investment, reduce supply-chain dependencies
The agreement is expected to go beyond trade liberalisation, strengthening investment flows and helping both sides diversify supply chains amid growing concerns over economic dependencies and…
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