Bridging Borders: EU-India Free Trade Agreement on the Horizon

The push for a comprehensive free trade agreement between the European Union and India is gaining traction, as Swedish Minister for International Development Cooperation and Foreign Trade, Benjamin Dousa, suggests addressing both tariff and non-tariff barriers. Speaking on Wednesday, Dousa emphasized the need for reform, citing over-regulation in both regions as a challenge to seamless trade.

Highlighting the mutual benefits, Dousa noted the potential of the free trade agreement to enhance goods' flow across borders. He stressed the importance of India evolving into a reliable manufacturing hub capable of attracting foreign investments, a sentiment echoed by Indian Commerce and Industry Minister Piyush Goyal. Goyal pointed to the significant opportunities for Swedish businesses, underlining India's investment-friendly climate bolstered by substantial infrastructure investments.

The discussion on non-tariff barriers remains pivotal in the ongoing negotiations between India and the 27-member EU bloc. Goyal's official visit further underscores both nations' commitment to strengthening trade and investment ties, with 280 Swedish companies already operating in India and a growing Indian corporate presence in Sweden.

(With inputs from agencies.)