The long-stalling trade talks between India and the European Union could resume fully-fledged after eight long years. The comprehensive trade agreement had got dangled in 2013 after rigorous efforts amended by both organizations. The vigorous movement gained its mojo back after the counterparts have intensively worked together to comply a judicious endpoint to the withstanding enigma. In the purview of the grim situation in India, the European Union extended their support as the nation sweeping under the unrelenting waves of the coronavirus.
The EU had urged to communicate to India’s Prime Minister Narendra Modi through a virtual summit conducted on May 8. It happened so swiftly that the notion of a friend in need got envisioned in the scenario. The EU has been a long-standing ally for India, and the synopsis is proving its worth once again. When India sought a response from the European Commission, the state leaders coordinated an integrated platform for delivering emergency medical supplies like oxygen concentrators, ventilators, and antiviral drugs. India’s stalling amid the coronavirus pandemic has got perceived by organizations and countries of the world, and they are extending their support with open arms.
The coordination of assistance is only a mere part of the discussion and other recent developments in the trade agreement talks between India and the European Union. In addition, the two sides also coincided in thoughts of incepting negotiations for the standalone investment protection pact. The elevated risk of the pandemic in India and views on the healthcare system also got the much-needed rumination by both parties.
Long ago, when the trade pact got suspended in 2013, it felt like that the relationship between India and the European Union was getting tarnished. Today’s scenario has changed the overhauling stance comprehensively. The negotiations on both the trade and investment agreements will get bolstered to arrive at a significant conclusion beforehand. An official familiar with the matter expressed his pinpointed perspective on the matter and said,” the decisions are a result after politcal review of the situation and the willingness of both the parties to equipage the maximum potential of further dialogue to combat the recession in the post-Covid era.”
The allies being a prominent force, are working towards venting a new chapter in their encumbering relationship over the years. To begin with, Prime Minister Narendra Modi was invited to the Europan Council meeting to outlook the possibilities of further investment and development. The optimistic stance got long hailed in the conference parties wanted to fringe all the complexities in the past and move ahead with the fresh air of voluntarily supporting each other during harsh circumstances. As India is reeling with the second wave of the coronavirus, the 27-member bloc confined their underpinning.
Until today, The European Union has accommodated supplies worth $100 million to India to alleviate the repercussions of the Covid-19 pandemic. The monumental oblige has got fulfilled by the collaboration of the World Health Organization. It got believed that it could impact further dialogues as PM Modi applauded them for their continued commitment to bolstering their ties with India and considering it a higher priority amid the Portuguese Presidency of the US Council.
The gobsmacking unraveling of the trade pact gets believed to be a watershed moment in the relationship between both parties. The resumption of the long-stalling talks paved the way forward for the inauguration of the sustainable connectivity partnership. The balanced trade agreement would bring in synergy and a boost in the employment sector across the nation, and it gets seen as a significant driver in the foreseeable future.
While the protuberant focus on extending the bilateral ties, there was a subtle reference to the unprecedented rise of China’s discretionary tactics. The conference got held between the two natural partners. And the belief among the parties was the democratic associations demonstrated the capability to address the political vehemence.
The shared values between the parties confronted a convergence of interests supporting multilateralism against the recent hypocrisy adopted by China. China has been a long-standing headache for the nations as it has tried to disseminate the notion of supremacy. It has weathered the interests of its neighboring forces and even its allies in this regard.
INDIA-EUROPEAN UNION TIES TO STRENGTHEN FURTHER FOLLOWING THE HINDRANCE OF EIGHT YEARS
When India resorted to assistance from the European Union, it was crystal clear that the alarming situation was deteriorating with every surpassing day. It was a dire state, and the globally astute relations of India have helped it monumentally amid the crisis. The relationship trails back to 2007 when the connections of the trade agreement got launched for the first time.
It gained slight propulsion as the parties weren’t able to derive the ultimate conclusion. It temporarily got suspended in 2013 after 16 rounds of trying resumption talks. Finally, the political hue has evaded, and the leaders’ decisions come as a heavyweight to proferring the ties.
Vikas Swarup, EU Secretary in the Ministry of External Affairs; asserted his viewpoint on the unilateral verdict and said,” Over the recent years, the culmination of India’s efforts in enhancing ties across the member states have made international cooperation inevitable.” The trade aspect has a different dilemma and getting dealt with separately. He further stated that the High-level dialogue got integrated to ensure the rigorous approach amid market fluctuation rates. The two nations have concurred to setting up a joint workforce for a resilient supply chain of goods and services.
The international virtual summit also had an emphasis on resuming talks on integrating policies regarding the geographical indications. Contemplating the bizarre situation in India, Von Der Leyen, European Commission Chief, said. “We are acceded to provide maximum support to India in these challenging times, and further assistance will also continue to follow in terms of investment protection and other captivating policies.”
It would benefit the employment generation scheme and the market regulations across the nation. He hailed the propounding change of stance as a landmark moment for both India and the European Union.
The loftiest member at the Ministry of External Affairs asserted that Prime Minister Narendra Modi had pushed his hubris to European Union on suspending the Covid-19 patent proposal for India and South Africa amid the fretful crisis. However, The European Union leaders expressed their skepticism on the propaganda as they affirmed that the first grant should be on exporting the doses.
However pinpointing, to its improved relationship, the EU changed its stance on the matter and said the global cooperation of countries would pave the way for better distribution of vaccines across the world. They focused on integrating a framework for dealing with adverse circumstances in case of future pandemics.