Weeks after the formal Brexit agreement, India has revived dialogues with the EU and the UK to expedite trade deals and aid economic growth in the post-COVID era. EU trade commissioner Valdis Dombrovskis held a virtual meeting with India’s commerce and industry minister Piyush Goyal on February 5, where he urged for a quick early-harvest deal followed by a time-bound and balanced free trade agreement (FTA).

Goyal also urged EU to support India’s joint proposal with South Africa at the WTO, to get a temporary waiver of the restrictive TRIPS agreement to ensure adequate supply of COVID-19 vaccines in developing countries. These dialogues are being held at a time when India’s planned FTA with the EU has lost its importance thanks to Brexit. Britain constituted 26 per cent of India’s apparel exports in FY20 to the EU. It also accounted for 16 per cent of India’s $53.7-billion exports to the EU in FY20. Apart from garments, India ships gems and jewellery, pharma products, footwear and organic chemicals, among others, to the UK in large volumes.

Indian exporters believe, India-UK trade talks won’t have the same level of complication that exists between India and the EU, and a deal can be easily signed between the two countries.