India is changing, and Europe is missing out. India is now the world’s fastest-growing economy, ahead of China, and the European Union is both its biggest market and biggest trading partner. The two unions share common values and democratic political systems. Yet Brussels has not found time to meet Prime Minister Narendra Modi, and trade talks are deadlocked.
Europeans are frustrated by India’s complexity, fragmentation, and changing rules. But, while European firms complain about the difficulty of doing business across the diverse Indian subcontinent, few realise that Indians feel exactly the same about Europe. Indians tend to approach Europe through bilateral relationships with each member state, rather than treating it as a whole.