NEW DELHI — The EU and India talked on and off for nearly 20 years about doing a trade deal, but it took Donald Trump’s tariff coercion and China’s export dominance to push them into finally achieving a breakthrough.
Brussels and New Delhi celebrated a landmark accord Tuesday to open markets spanning 2 billion people and accounting for more than a fifth of global GDP — with Europe gaining greater access for its autos and alcohol, and India winning concessions on pharmaceuticals and services.
“Friends, today, India has concluded the largest ever free-trade agreement in its history,” said Prime Minister Narendra Modi, a day after hosting EU leaders for the annual Republic Day parade in New Delhi — a first for the 27-nation bloc — ahead of a trade and defense summit.
“There comes a time when history tells us this was a turning point. This is when the moment took a new direction, when a new era began,” Modi told reporters, standing alongside European Commission President Ursula von der Leyen and European Council President António Costa.
