India-EU: Forging Future Ties Through Strategic Trade and Tech Talks
India and the European Union are intensifying negotiations to finalize a long-discussed free trade agreement addressing contentious issues like market access and duties. The partnership aims to expand bilateral trade and enhance defense, with several high-level dialogues and a new strategic vision set to shape future relations.
- Country:
- India
In a significant diplomatic initiative, India is poised to finalize its ambitious free trade agreement (FTA) with the European Union. Two critical rounds of negotiations are scheduled within the next month to navigate key obstacles, primarily concerning rules of origin, market access, and tariffs on products like wine and dairy.
The European Union, India's largest trade partner, engaged in bilateral trade worth USD 135 billion in the financial year 2023-24. High-profile visits by EU officials, including agriculture commissioner Christophe Hansen, underscore the urgency to seal the deal by year-end. Parallel efforts include reinforcing a robust politico-strategic blueprint amidst geopolitical flux.
Ahead of potential ratification at the forthcoming India-EU summit, both parties are also strategizing on defense collaboration, exploring shared ventures in military hardware development. Furthermore, the EU's Political and Security Committee plans a visit, reinforcing commitments to counter-terrorism and regional stability.
(With inputs from agencies.)
ALSO READ
Rupee Watch: Navigating Tariffs, Exchange Rates, and GST Reform
Kejriwal Challenges Modi to Raise Tariffs Against US Imports
India's Resilience Amid US Tariffs and GST Reforms
India-US Trade Talks: Navigating Tariffs and Diplomatic Ties
UPDATE 1-India plans relief package for exporters hit by US tariffs
Google News