In a bid to navigate global trade tensions, India's External Affairs Minister S Jaishankar has appealed to Germany to fast-track negotiations for an India-European Union Free Trade Agreement (FTA). During a meeting with his visiting German counterpart, Johann Wadephul, Jaishankar stressed that a decisive conclusion to the deal would help stabilise the global economy, particularly as India seeks to circumvent its current trade conflict with the US.
The talks also touched on the Ukraine conflict, with Wadephul urging India to use its influence to persuade Russia to join peace efforts. He also expressed the EU's opposition to Russian oil reaching its shores through roundabout methods. Acknowledging Germany's status as Europe's largest economy, Jaishankar highlighted the importance of predictability in global politics. He noted that the ongoing global shifts are directly influencing India's foreign policy and its approach to other countries.
Wadephul, for his part, supported a year-end deadline for the FTA, which the EU considers the largest deal of its kind worldwide. He echoed the sentiment that when others create barriers to trade, countries should respond by lowering their own. "If others set up impediments to trade, we should respond by lowering these impediments and hurdles (between us)," Wadephul stated, backing the early ratification of the agreement. The two nations also discussed expanding cooperation in trade, defence, and security, with Germany showing a keen interest in forging a stronger alliance amidst current geopolitical uncertainties.