India and EU set to start talks amid efforts to ink FTA by year-end

INdia and the European unification (EU) ar go under for a serial publication of upper-level engagements in areas ranging from security to the Indo-Pacific and technology as the two sides work towards the formal signing of their free trade agreement (FTA) by the end of this year, people familiar with the matter said.The two sides have also been coordinating on the evolving security situation arising from the conflict in West Asia, including freedom of navigation and the unimpeded flow of trade, including possible cooperation for ensuring the unimpeded flow of maritime trade after steps are taken to end the hostilities involving Iran, the people said on condition of anonymity.The two sides are lining up a series of high-level engagements, beginning with the visit later this month of a delegation of 11 members of the European Parliament who focus on relations with India. There are also plans for bilateral consultations on the Indo-Pacific region in May and a meeting of the Trade and Technology Council (TTC) in late June, as well as visits to New Delhi by EU commissioners handling key aspects of the strategic agenda, the people said.The TTC was established in 2022 to oversee cooperation in trade and investment, resilient supply chains and digital and green technologies. The EU has so far established such a body with only two countries — India and the US.The two sides are expected to launch negotiations for a Security of Information Agreement (SoIA) in the coming weeks, and resume talks on an investment protection agreement and an agreement on geographical indications, the people said. Both sides are looking to conclude the SoIA, which will facilitate the sharing of sensitive information and help drive collaboration in critical areas such as defence manufacturing, by the end of the year, the people said.The two sides also held the first edition of their elevated security and defence dialogue on the margins of the Raisina Dialogue in New Delhi, with the focus on maritime security, cyber security and counter-terrorism, the people said.In the case of the FTA, the two sides are looking to complete various technical procedures such as legal scrubbing and finalisation of certain issues so that the trade deal can be forwarded to the European Council for adoption. Following this, the FTA can be formally signed by the final quarter of the year, hopefully by November, the people said.The FTA will then have to be approved by the European Parliament before it can enter into force, with the people saying that this is expected to happen by January 2027.India and the EU concluded negotiations for the FTA – billed as the “mother of all deals” – during the bilateral summit between Prime Minister Narendra Modi, European Council President Antonio Costa and European Commission President Ursula von der Leyen in New Delhi on January 27. At the time, the two sides unveiled a vision for using commerce to shore up a rules-based world order amid growing global trade tensions.The people pointed to external affairs minister S Jaishankar’s recent participation in the EU Foreign Affairs Council meeting in Brussels and his bilateral interactions with EU foreign and security policy chief Kaja Kallas, Costa and Von der Leyen as an example of both sides keeping up the tempo of their engagements and taking steps to deliver at speed and scale.“The dynamics of the current geopolitical environment have made the partnership more relevant, especially when it comes to factors such as stability and predictability,” one person said.