Comparative Economic Trajectories of India and Pakistan

Summary. At a time when headlines are dominated by higher tariffs and economic nationalism, India and the European Union have finalized a long-delayed free trade agreement – dubbed as the “mother of all deals” – that will cut tariffs on most goods and boost trade. This deal is a major win for Brussels and New Delhi as both seek to open up new markets in the face of US tariffs and Chinese export controls. The pact will eventually link the world's most populous country, with roughly 1.5 billion people, to a market of around 500 million consumers. For global trade flows, that scale alone is transformative. For Pakistan, whose export base is narrow and fragile, the implications are immediate and strategic and raise uncomfortable questions that cannot be postponed.