Accelerating Path: India-EU Early Harvest Trade Pact on the Horizon

India and the European Union are rapidly advancing negotiations on a proposed trade pact, with both sides targeting finalization of an early harvest agreement by July, according to a government official. This swift progress reflects a mutual urgency to cement a deal amid a shifting global trade landscape.

The early harvest agreement will tackle key areas such as intellectual property rights, tariffs, and government procurement, laying the groundwork for a comprehensive free trade agreement. An official team from India's commerce ministry is in Brussels this week for the next round of talks, following recent discussions in the national capital.

If successful, the pact would increase competitiveness of Indian exports, including pharmaceuticals and petroleum products, in the EU market. The negotiations, encompassing 23 policy areas, restarted after an eight-year halt due to market access disputes. The EU remains India's largest trading partner for goods, underscoring the importance of this agreement.

(With inputs from agencies.)