India-EU Trade Talks: Progress, Challenges, and Future Prospects
The India-EU free trade agreement negotiations are advancing, focusing on resolving issues in steel, autos, and non-tariff barriers. Recent talks in Brussels aimed to expedite the pact, crucial for enhancing economic ties. The EU seeks significant duty cuts and a stronger intellectual property regime, impacting multiple sectors.
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Negotiations for the India-European Union (EU) free trade agreement are making steady progress, yet key challenges remain in areas like steel, automobiles, and non-tariff barriers, a senior official disclosed on Monday.
Last week's discussions in Brussels marked the 14th round of talks, highlighting efforts to resolve outstanding issues concerning goods and services. The meetings began on October 6, aiming for a swift conclusion of the negotiations.
According to officials, while the negotiations are promising, hurdles persist, particularly in the sectors of steel and automobiles, though agricultural issues seem largely resolved. In a bid to bolster the negotiations, Commerce Secretary Rajesh Agrawal joined Indian negotiators towards the end of the discussions, also engaging with European Commission Director General for Trade Sabine Weyand. Meanwhile, Commerce and Industry Minister Piyush Goyal is poised for trade discussions in New Zealand, following the recent India-New Zealand FTA talks.
(With inputs from agencies.)
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