India-EU trade deal is a ‘make haste slowly’ moment, says Anand Mahindra

Mumbai: Business leader Anand Mahindra on Wednesday shared a philosophy on India’s measured approach to global trade in a recent X post, drawing on a piece of advice his late father often shared: “Hurry slowly.”

Mahindra said that although the advice may have seemed contradictory at one time, it resonated strongly with the business community and reflected India’s strategy to navigate international trade.

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This phrase, which has its roots in the Latin maxim Festina Lente, encourages conscious action. “This shows that deliberate progress, rather than hasty action, is the fastest way to achieve lasting results,” he wrote.

Linking this philosophy with recent trade developments, Mahindra highlighted the potential impact of the long-awaited India-European Union Free Trade Agreement (FTA). Citing data from the Kiel Institute, the official said the agreement could increase bilateral trade by 41-65%, increase real incomes of both sides and reduce dependence on risky markets.

“I believe this philosophy perfectly reflects India’s current approach to the global business environment…” Mahindra said.

Described by leaders of both sides as a historic breakthrough after nearly two decades of negotiations, the India-EU Free Trade Agreement aims to significantly reduce tariffs and liberalize trade in goods and services between India and the 27-member European Union. Together they represent around 21% of global GDP, making the agreement one of the most strategically important for India’s external engagement.
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Under the agreement, customs duties on a wide range of products will be eliminated or sharply reduced; This, when fully implemented, will cover more than 96% of EU tariff limits and more than 90% of Indian exports by value. This includes machinery, chemicals, pharmaceuticals and aerospace products.

India-EU FTA can open doors to many sectors, from automobiles to electronics to pharmaceuticals, while also facilitating technology transfer and investments. The deal could accelerate growth for Indian businesses, create jobs and strengthen India’s position in global value chains.

The agreement is expected to be implemented by 2027 or 2028, following technical reviews and approval by India and EU member states.