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Key Points

India and the European Union are rapidly advancing free trade agreement negotiations with a critical year-end deadline. Prime Minister Narendra Modi and EU leaders are pushing for a comprehensive deal that addresses complex trade barriers. Both sides are exchanging offers on services and investments while navigating sensitive sectors like agriculture and automobiles. The negotiations represent a strategic economic opportunity for mutual growth and global trade stability.

Key Points: Modi Pushes India-EU Trade Deal Before Year-End Deadline

  • Modi-EU leaders intensify trade negotiations
  • Talks focus on services, investments, market access
  • Agricultural products remain sensitive for India
  • Potential breakthrough expected by year-end
2 min read

India-EU free trade talks gather pace as year-end deadline looms

India and EU accelerate free trade negotiations, targeting year-end agreement amid global trade uncertainties and strategic economic interests.

"We are looking for a fair, equitable, balanced trade with reciprocity - Indian Official Sources"

New Delhi, Sep 8

The India-EU free trade agreement (FTA) negotiations started here on Monday as the two sides aim to conclude the talks before the year-end deadline amid the US tariff turmoil that has created uncertainties in world trade, according to official sources.

The outcome of this round of negotiations will be crucial in determining the next steps, as both sides weigh the possibility of breaking the deadlock on unresolved issues.

Following the negotiating round, Commerce and Industry Minister Piyush Goyal will also hold talks with Maros Sefcovic, Commissioner of the European Commission for Trade and Economic Security, who will also be in India on September 12.

The negotiations have gathered further momentum after trade talks figured in a phone call on September 4 between Prime Minister Narendra Modi and European Council President Antonio Costa, and European Commission President Ursula von der Leyen. The EU leaders pushed for concluding the negotiations by the end of the year.

Both the 13th and 14th rounds of talks, to be held in Brussels from October 8, will focus on more substantial issues such as technical barriers to trade, sanitary and phytosanitary issues, market access, rules of origin, and public procurements. The two sides have also made progress in evaluating each other's offers on services and investments, which were exchanged in July.

India has made it clear that agricultural and dairy products are a livelihood issue for the country's farmers and have to be kept out of the free trade pact, and the EU, on its part, is seeking access to the Indian market for automobiles and alcoholic beverages.

Meanwhile, India also stands ready to engage with the US for a mutually beneficial multi-sector bilateral trade agreement in which the country's core interests in sensitive sectors like dairy, agriculture, fisheries and MSMEs will be protected, official sources said.

India remains committed to increasing the two-way trade, keeping the interests of these sectors in mind and is looking for a fair, equitable, balanced trade with reciprocity, sources said.

India and Qatar may also conclude the terms of reference for their bilateral FTA early next month. Commerce Minister Piyush Goyal may visit Qatar in the first week of October if terms of reference for the FTA are finalised, sources said.

- IANS

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Reader Comments

P
Priya S
Glad agriculture and dairy are being kept out. Our farmers have suffered enough with previous trade deals. We need to protect our rural economy while pursuing growth in other sectors.
M
Michael C
As someone working in the automotive sector, I hope this deal gives Indian manufacturers better access to EU markets. We make quality vehicles that can compete globally if given fair opportunities.
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Ananya R
While I support the FTA, I hope our negotiators don't rush it just to meet a deadline. These agreements have long-term consequences and should be thoroughly discussed with all stakeholders.
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Siddharth J
The EU wants access for automobiles and alcohol? We should push for better terms for our IT services, pharmaceuticals, and textiles. Balance is key - we shouldn't give more than we get.
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Nisha Z
Hope this creates more job opportunities for Indian youth! 🇮🇳 The focus should be on sectors where we have competitive advantage while protecting our sensitive industries.

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