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Russia is looking forward to India concluding a new Free Trade Agreement with the Eurasian Economic Union (EAEU), in this context discuss the prospects that India can have going forward with EAEU.

Topic:  Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests. Effect of policies and politics of developed and developing countries on India’s interests, Indian diaspora.

2. Russia is looking forward to India concluding a new Free Trade Agreement with the Eurasian Economic Union (EAEU), in this context discuss the prospects that India can have going forward with EAEU. (250 words)

The Hindu

Why this question:

Russia is looking forward to India concluding a new Free Trade Agreement with the Eurasian Economic Union (EAEU).Thus the question.

Key demand of the question:

Discuss the importance of EAEU, the prospects it holds for India with Russia wanting India to participate and contribute to the grouping through FTAs.

Directive:

Discuss – This is an all-encompassing directive – you have to debate on paper by going through the details of the issues concerned by examining each one of them. You have to give reasons for both for and against arguments.

Structure of the answer:

Introduction:

In first, discuss what EAEU is.

Body:

Discuss briefly about EAEU –

  • The Eurasian Economic Union is an international organization for regional economic integration.
  • It was established in 2015 by the Treaty of the Eurasian Economic Union.
  • The EAEU provides for free movement of goods, services, capital and labor, pursues coordinated, harmonized and single policy in the sectors determined by the Treaty and international agreements within the Union.
  • The Member-States of the Eurasian Economic Union are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic and the Russian Federation.
  • The Union is being created to comprehensively upgrade, raise the competitiveness of and cooperation between the national economies, and to promote stable development in order to raise the living standards of the nations of the Member-States.

Discuss its importance for India and relevance to the Eurasian economies.

Conclusion:

Conclude with way forward.