A day after India and the European Union announced the conclusion of Free Trade Agreement (FTA), the much-delayed India-US trade deal is close to being finalised and is progressing well. Top government sources referred to the India-US deal, stating that “robust negotiations are ongoing”. The deal has made significant progress, with sources saying, “We are very close to seeing it fructified. Even as the EU deal was being finalised, we were in touch with US negotiators”.Despite India and the EU facing a belligerent US President Donald Trump, the two sides didn’t mention the background developments. Sources clarified that the India-EU deal was in both parties’ mutual interest, not a show of one-upmanship or a knee-jerk reaction to geopolitical developments.India’s exports to the EU are almost USD 76 billion, just behind the USD 86 billion Indian export to the US. Sources noted that FTA with the EU wasn’t easy, given the different development levels and differences that needed to be addressed. However, India has successfully opened up its market in multiple areas, especially in the non-agriculture sector, and has integrated with global economies through quotas and concessions.Regarding the India-EU deal, sources said India had made it clear that fighting over agricultural sensitivities would hinder agreement, so it’s better to leave each other’s sensitivities.
