After a lull of more than eight years, India and the EU have resumed their negotiation on free trade agreement (FTA).

The talks were restated at the European Union headquarters in Brussels on June 17. The first round of the talks was scheduled in New Delhi from June 27 to July 1.

They both aimed to complete talks by end of 2023 and reach a fast and comprehensive FTA in 2024.

The EU is India’s third-largest trading partner, and the US and China ranked first and second.

Reaching an FTA with India would meet the EU’s strategy to strengthen its engagement with the Indo-Pacific region, aiming to realize bilateral deals and get higher economic growth.