India-EU Free Trade Agreement Negotiations
India and the European Union (EU) are intensifying efforts to finalize their Free Trade Agreement (FTA), aiming for a swift, balanced, and mutually beneficial conclusion. Key discussions occurred during Commerce and Industry Minister Piyush Goyal's visit to Brussels.
Key Highlights
- Meeting with EU Officials:
- Minister Piyush Goyal met with Maroš Šefcovic, EU Commissioner for Trade and Economic Security.
- Discussions focused on enhancing the momentum of the India-EU FTA negotiations.
- Both parties reiterated their commitment to achieving a swift agreement.
- Focus Areas:
- Key areas of the proposed FTA include market access, non-tariff measures, and regulatory cooperation.
- The aim is to conclude negotiations by December.
- Separate talks are ongoing for an investment protection agreement and an agreement on geographical indications.
- Bilateral Trade:
- In FY25, India-EU bilateral trade in goods was valued at $136.53 billion.
- Recent Developments:
- The 14th round of FTA negotiations concluded in Brussels on October 10.
- The EU urged India to lower tariffs on cars and alcoholic beverages.
- India seeks recognition as a data-secure country to facilitate digital services trade.
- India has also requested easier temporary work access for its professionals.
- India-Germany Relations:
- Minister Goyal also met Johann Wadephul, Federal Minister for Foreign Affairs, Germany.
- Discussions reaffirmed the strategic partnership between India and Germany and emphasized concluding the India–EU FTA.
