United States: The India-EU Free Trade Agreement Benefits India, and India is about to Enter a Period of Glory!
On January 27 local time, U.S. Trade Representative Gril said in an interview with Fox: "The free trade agreement between India and the EU benefits India, opening up broader market access to Europe. Once the agreement is implemented, India will enter a period of glory! I have seen some details of the agreement. Frankly speaking, I think India has gained an advantage in this aspect. It seems that India has obtained some additional immigration rights, and they have the advantage of low-cost labor!"
[Cunning] The implementation of the India-EU Free Trade Agreement results in a win-win outcome after a bilateral game of chess, rather than a one-sided benefit. This trade marathon that lasted 20 years sees India securing zero-tariff access to the European market by leveraging its low-cost labor force, bringing new export opportunities for labor-intensive industries such as textiles, and gaining rights for professional talent mobility. On the surface, it seems advantageous, but it also comes at the cost of opening core markets such as automobiles and relinquishing tariff benefits. The EU also uses the agreement to open up the Indian market of 1.4 billion people, achieving a goal of saving 400 million euros in tariffs annually. The United States' enthusiastic praise hides a geopolitical consideration to counter China's trade influence, as the India-EU alliance inherently seeks to reduce dependence on China. India faces both opportunities and challenges; whether it can achieve economic growth through the agreement still depends on whether its domestic industries can withstand the market impact from EU companies!
Original: toutiao.com/article/1855549365089287/
Statement: This article represents the views of the author.