Scholz calls for a speedy conclusion of the free trade agreement between the EU and India

The German Chancellor calls for faster negotiations on a trade agreement between the European Union and India.

Scholz emphasizes the importance of the Indian market and calls for pragmatism in the negotiations.

German Chancellor Olaf Scholz has called for a speedy conclusion of a free trade agreement between the European Union and India. At the Confederation of Indian Industry (CII) annual meeting in New Delhi on Tuesday, Scholz emphasized the importance of the Indian market for German companies and called for pragmatism in the negotiations.

The negotiations on a free trade agreement between the EU and India have been ongoing since 2007, but have repeatedly stalled due to differences of opinion on issues such as tariffs and market access. However, there has been renewed momentum in the negotiations since last year, and both sides have expressed their commitment to reaching an agreement as soon as possible.

In his speech, Scholz said that a free trade agreement between the EU and India would be a "win-win situation" for both sides. He pointed out that India is a growing market with a population of over 1.3 billion people, and that a free trade agreement would give German companies access to this vast market. Conversely, a free trade agreement would give Indian companies access to the European market, which is the largest in the world.

Scholz also called for pragmatism in the negotiations. He said that both sides need to be willing to compromise in order to reach an agreement that is beneficial to both sides. He also said that the negotiations should not be allowed to drag on for too long, as this would only increase uncertainty for businesses.

The EU and India are two of the world's largest economies, and a free trade agreement between the two would be a major boost to global trade. It is hoped that Scholz's call for a speedy conclusion of the negotiations will help to move the process forward.