US Trade Representative Jamieson Greer said India stands to gain the most from its new FTA with the EU, citing enhanced market access and labour mobility. He noted the EU is seeking new partners due to US protectionist policies under Donald Trump.
India 'Comes Out on Top' in EU FTA: US Rep
United States Trade Representative Jamieson Greer has said that India stands to benefit the most from the recently concluded Free Trade Agreement (FTA) with the European Union, citing greater market access, labour advantages, and potential mobility opportunities for Indian workers. In an interview with Fox News, Greer said the agreement must be viewed in the context of shifting global trade dynamics under US President Donald Trump's push to prioritise domestic production. He noted that the European Union, being highly trade-dependent, is increasingly looking beyond the US for export markets.
"Strategically, it's important to understand that because President Trump has prioritised domestic production and essentially started charging a fee for other countries to access our market, these countries are trying to find other outlets for their overproduction," Greer said. "And so the EU is turning to India to try to find a place. The EU is so trade-dependent they need other outlets if they can't keep sending all their stuff to the United States. I've looked at some of the details of the deal so far. I think India comes out on top on this, frankly," he added during his interview with Fox News.
According to Greer, India is set to gain enhanced access to European markets and may also benefit from expanded mobility provisions. He highlighted India's competitive advantage, pointing to its low-cost labour and growing manufacturing base.
"They get more market access into Europe. It sounds like they have some additional immigration rights. I don't know for sure, but President von der Leyen of the EU has talked about mobility for Indian workers into Europe. So, I think on net, India's going to have a heyday with this," he said. "They have low-cost labour, and it looks like the EU is doubling down on globalisation when we're trying to fix some of the problems of globalisation here in the US," the US Trade Representative added.
On India's Purchase of Russian Oil
When questioned about the Tariff structure on India in respect to purchasing Russian oil, the US Trade Representative said they expect India to wind down this purchase. "They have made a lot of progress on this. I am in frequent contact with my counterpart in India. I have a great working relationship with him, but they still have a ways to go on this point. They like the discount that you get from Russian oil, so it's hard for them. The Treasury Department has put into place, you know, a few weeks ago now, more significant sanctions, so we expect India to continue to wind that down, but we're watching it closely," he said.
A 'Milestone' Partnership
Greer's remarks come a day after India and the EU signed a "milestone" deal, dubbed the "Mother of All Deals", by concluding their negotiations for a Free Trade Agreement (FTA) on Tuesday. The deal is one of India's most strategic economic partnerships, designed as a modern, rules-based trade partnership, which responds to contemporary global challenges while enabling deeper market integration between the world's fourth- and second-largest economies.
With a combined market estimated at over Rs 2091.6 Lakh Crore (USD 24 trillion), bringing unparalleled opportunities for the 2 billion people of India and the EU, the FTA unlocks significant potential for trade and innovation. (ANI)
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