Mumbai, Jan 28: Business tycoon Anand Mahindra on Wednesday reflected on India’s measured approach to international trade, likening it to his late father’s advice: “Make haste slowly.”
In a post on X, Mahindra explained that the phrase, derived from the Latin maxim Festina Lente, advocates deliberate action, emphasizing that careful steps often lead to faster and more sustainable results. He said this approach aligns closely with India’s strategy in navigating global trade.
Mahindra linked the philosophy to the recently concluded India-European Union Free Trade Agreement (FTA), which he described as a historic moment after nearly two decades of negotiations. Citing research from the Kiel Institut, he noted that the deal could boost bilateral trade by 41–65%, increase real incomes, and reduce dependence on higher risk markets.
“The India-EU FTA is a significant step for India’s engagement with the world. Proceeding carefully ensures long-term benefits,” Mahindra said.
The agreement is expected to liberalize trade in goods and services, eliminating or sharply reducing tariffs on more than 96% of EU tariff lines and over 90% of Indian exports by value. Key sectors to benefit include machinery, chemicals, pharmaceuticals, aerospace, automobiles, and electronics. The pact is also expected to facilitate technology transfers, attract investments, create jobs, and strengthen India’s position in global value chains.
The India-EU FTA is slated for implementation by 2027 or 2028, following technical reviews and ratification by both India and EU member states.