India-EU Free Trade Agreement: A Step Closer to a New Economic Era

Commerce and Industry Minister Piyush Goyal recently met European Commissioner for Trade, Maros Sefcovic, in Brussels, marking their second meeting within a month to negotiate a proposed free trade agreement (FTA) between India and the EU.

During the May 23 meeting, Goyal expressed India's commitment to the shared prosperity of both regions, as negotiations aim to finalize an early harvest trade agreement by July. This agreement could accelerate the completion of a comprehensive FTA amidst global trade uncertainties.

The discussions also focused on key concerns such as intellectual property rights, tariffs, and non-tariff barriers. Successful negotiations could enhance competitiveness for Indian exports to the EU, involving sectors like pharmaceuticals and electrical machinery.

(With inputs from agencies.)