India Calls on Germany for EU Free Trade Pact Support
Indian Foreign Minister Jaishankar urged Germany's support in advancing EU free trade talks. Existing negotiations face hurdles over EU demands on import taxes and strict climate rules. India, balancing domestic interests and geopolitical tensions, seeks to finalize the pact by year-end amid other global trade challenges.
In a bid to expedite the ongoing free trade agreement negotiations, Indian Foreign Minister Subrahmanyam Jaishankar appealed to German counterpart Johann Wadephul for Germany's support in strengthening relations with the European Union. This diplomatic engagement took place during Wadephul's visit to India on Wednesday.
While aiming to deepen economic ties, India and the EU have encountered obstacles in their trade discussions, primarily over the EU's insistence on lowering import taxes on vehicles and dairy, alongside imposing tough climate standards. In contrast, India intends to safeguard local agricultural sectors and resist stringent environmental and legal stipulations.
The trade dialogue gains urgency as both parties seek to meet a self-imposed year-end deadline for the agreement, amidst external challenges such as U.S. tariffs and the geopolitical ripple effects of Indian purchases of Russian oil affecting trade dynamics with Western powers.
Google News