It sends a signal to the US- from Europe and from India - that we don't need the US as much as the US thinks we do. Referring to the just-concluded India–EU FTA — a landmark deal aimed at creating a market of two billion people — Banerjee said trade agreements should be seen only as a first step. “Trade agreements are just a starting point. Right now, both Europe and India are somewhat on the sidelines, trying to do something and see what happens,” he said. Asked whether the FTA could help cushion India against global instability, supply-chain disruptions and US tariffs, Banerjee said, “That depends entirely on how much India can take advantage of it”, adding, “Tariffs are just one component of price.

Source: The Telegraph January 29, 2026 07:58 UTC