EU's Trade Chief Set for Pivotal India Visit amid FTA Progress

The upcoming visit of European Commissioner for Trade Maros Sefcovic to India marks a significant step in the ongoing negotiations for a free trade agreement (FTA) between the EU and India. Scheduled towards the end of the 13th round of talks, the visit underscores the urgency of concluding the agreement by the end of this year.

The negotiations, which resumed last year after an eight-year hiatus, have been fraught with challenges, primarily revolving around market access and tariff reductions. The EU is pressing for significant concessions in areas such as automobiles, medical devices, and consumer goods like wine and spirits, along with a robust intellectual property framework.

The outcome of these negotiations could significantly alter trade dynamics between the two regions. Currently, the EU accounts for a substantial portion of India's export market, and a successful agreement could enhance the competitiveness of Indian exports like garments, pharmaceuticals, and machinery in Europe, while also deepening bilateral trade in services.

(With inputs from agencies.)