India-EU push to resolve pending issues as trade pact enters crucial phase – Firstpost

India-EU push to resolve pending issues as trade pact enters crucial phase – Firstpost

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“Held a productive meeting with EU Trade and Economic Security Commissioner, Mr. @MarosSefcovic. We discussed the progress on the India-EU FTA and explored ways to resolve the issues to further advance the negotiations,” said Piyush Goyal

Commerce and Industry Minister Piyush Goyal and EU Trade Commissioner Maros Sefcovic on Monday held discussions on pending issues linked to the proposed India–EU trade pact.

Sefcovic is leading a delegation of European Union officials in New Delhi for the ongoing negotiations.

The talks come at a crucial stage, as both sides are keen to finalise the agreement at the earliest.

Takin to X, Goyal said, “Held a productive meeting with EU Trade and Economic Security Commissioner, Mr. @MarosSefcovic. We discussed the progress on the India-EU FTA and explored ways to resolve the issues to further advance the negotiations.”

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Looking forward to continued cooperation towards a mutually beneficial FTA, he added.

In a social media post, Sefcovic said: “In India for a two-day marathon of meetings with @PiyushGoyal to advance our trade and investment negotiations”.

The visiting EU delegation includes Directorate-General for Trade Sabine Weyand, EU Ambassador to India Herve Delphin, EU Chief Negotiator Christophe Kiener, and Petros Sourmelis, Head of the Trade Section at the EU Delegation to India.

Key differences that remain to be resolved include issues related to steel, the EU’s carbon border tax, automobiles, and non-tariff barriers.

India and the 27-member EU bloc resumed negotiations in June 2022 for a comprehensive free trade agreement (FTA), an investment protection pact, and an agreement on geographical indications, after an eight-year pause. Talks had stalled in 2013 over disagreements on market access.

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Bilateral goods trade between India and the EU stood at $136.53 billion in 2024–25, with Indian exports at $75.85 billion and imports at $60.68 billion, making the EU India’s largest trading partner in goods.

The EU accounts for about 17% of India’s total exports, while its shipments to India represent around 9% of the bloc’s global exports.

The EU is seeking substantial duty cuts on automobiles and medical devices, as well as lower taxes on wine, spirits, meat, and poultry, alongside stronger intellectual property protections.

If concluded, the pact could boost the competitiveness of Indian exports such as readymade garments, pharmaceuticals, steel, petroleum products, and electrical machinery.

Negotiations currently span 23 policy areas, including goods, services, investment, rules of origin, customs and trade facilitation, government procurement, dispute settlement, intellectual property rights, and geographical indications.

With inputs from agencies

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