India-EU Free Trade Talks: A New Phase in Global Economic Relations
India and the European Union are set to continue negotiations on a comprehensive free trade agreement in September. Previous talks have focused on areas such as services, market access, and intellectual property rights, with hopes to finalize the agreement by the year's end.
- Country:
- India
India and the European Union are preparing for the next round of negotiations on a proposed free trade agreement (FTA) in September. According to L Satya Srinivas, Special Secretary in the Department of Commerce, discussions have included offers related to services and market access for goods.
The previous talks, held in Brussels, aimed to address key interests in sectors like automobiles, medical devices, and intellectual property. Additionally, Indian exports such as garments and pharmaceuticals could become more competitive if the agreement is successfully concluded.
Both parties have been engaged in negotiations since June 2022, after a pause since 2013. The agreement is expected to cover 23 policy areas, aiming to enhance economic ties between India and the EU, which is India's largest trading partner for goods.
(With inputs from agencies.)
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