A senior team of negotiators from the European Union (EU) is in New Delhi from 3rd to 7th November for negotiations with their Indian counterparts on the proposed India-EU Free Trade Agreement (FTA).
The engagements aim to resolve key outstanding issues and advance the agreement toward a balanced and equitable framework that benefits both sides. Deliberations during the week will focus on core areas, including trade in goods, trade in services, and rules of origin, among others, along with technical and institutional matters.
India’s Commerce and Industry Minister Piyush Goyal held a virtual meeting yesterday, November 3, with the EU’s Commissioner for Trade and Economic Security, Maroš Šefčovič, and Agriculture & Food Commissioner, Christophe Hansen.
As part of the visit, Director-General for Trade at the European Commission (EU DG Trade), Sabine Weyand, will be in New Delhi on 5th and 6th November for high-level talks with India’s Commerce Secretary, Rajesh Aggarwal, on key technical and policy issues.
The visit follows Commerce and Industry Minister Piyush Goyal’s visit to Brussels on 27th and 28th October, which aimed to build on the momentum generated by the 14th round of negotiations from 6th to 10th October, with discussions covering key areas of the proposed FTA, including market access, non-tariff measures, and regulatory cooperation. Over 65% of the chapters have been finalised in the FTA negotiations.
While India is looking to export more labour-intensive goods to the EU with increased market access, the EU aims to export more automobiles and liquor to India.
Earlier, government sources had indicated that the 27-member bloc’s recent nod to India’s fisheries exports will offset the loss of export avenues for the sector due to the US tariffs, adding that the talks are proceeding well and “on track to be concluded by the year-end.”
Meanwhile, Minister Goyal is visiting New Zealand, where the 4th round of negotiations for the India-New Zealand Free Trade Agreement (FTA) are slated from 3rd to 7th November in Auckland.
A press statement by India’s Ministry of Commerce and Industry stated, “Both sides are working constructively to build on the progress achieved in earlier rounds, to reach convergence on outstanding issues and move towards the early conclusion of the FTA,” with both sides having “reiterated their commitment to developing a forward-looking and inclusive trade framework that supports sustainable growth and shared prosperity for both economies.”
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