India-EU Free Trade Agreement: Progressing Towards a Historic Economic Partnership

In a significant development, Commerce and Industry Minister Piyush Goyal declared on Sunday that the negotiations for a comprehensive free trade agreement (FTA) between India and the European Union (EU) are progressing swiftly. The talks, which aim to conclude by the year's end, seek to address various concerns including EU regulations like carbon tax and deforestation rules.

Minister Goyal emphasized the goal of establishing a fair and balanced FTA that addresses mutual interests. He acknowledged some sensitive issues remain on both sides, but noted that the discussions are focused on strengthening market access and facilitating easier trade.

The minister's visit coincides with efforts to boost trade and investments between India and France. An early harvest agreement is also under consideration, potentially covering intellectual property rights, government procurement, tariffs, and non-tariff barriers, with the EU keen on duty cuts in sectors such as automobiles and medical devices.

(With inputs from agencies.)