India-EU trade deal is a ‘hurry up slow’ moment, says Anand Mahindra

Mumbai: Trading head Anand Mahindra shared the philosophy behind India’s deliberate approach to global trade in a recent X post on Wednesday, drawing on advice often shared by his late father: “Make haste slowly.”

Mahindra said that while the advice once seemed counterintuitive, it resonated strongly with the business and, he said, reflected India’s international business strategy.

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Rooted in the Latin maxim Festina Lente, the phrase encourages thoughtful action. “It suggests that proceeding deliberately, rather than rashly, is ultimately the fastest way to achieve lasting results,” he wrote.

Mahindra linked this philosophy to recent trade developments and highlighted the potential impact of the long-awaited India-European Union Free Trade Agreement (FTA). Citing data from the Kiel Institute, he noted that the deal could increase bilateral trade by 41-65%, increase real incomes on both sides and reduce reliance on riskier markets.

“I believe this philosophy perfectly reflects India’s current approach to global trade…,” Mahindra said.

The India-EU free trade agreement, hailed by leaders of both sides as a historic breakthrough after nearly two decades of negotiations, aims to significantly reduce tariffs and liberalize trade in goods and services between India and the 27-member European Union. Together, they account for nearly 21% of global GDP, making the agreement one of the most strategically important for India’s external engagement.

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Under the pact, tariffs on a wide range of goods will be eliminated or significantly reduced – once fully implemented, they will cover more than 96% of EU tariffs and more than 90% of the value of Indian exports. This includes machinery, chemicals, pharmaceuticals and aerospace products.

An India-EU free trade agreement could open doors to sectors ranging from automotive and electronics to pharmaceuticals, while facilitating technology transfer and investment. For Indian businesses, the deal can accelerate growth, create jobs and strengthen India’s position in global value chains.

The deal is expected to be implemented by 2027 or 2028 after technical review and ratification by India and EU member states.