The ninth round of Free Trade Agreement (FTA) negotiations between India and the European Union (EU) is scheduled to be held from September 23 to 27 in New Delhi.
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Discussions will this time focus on fundamental trade issues, including goods, services, investments and government procurement, as well as discussions on key rules such as rules of origin, sanitary and phytosanitary (SPS) measures. , technical barriers to trade (OTC) and trade remedies.
Continuing from previous rounds, this meeting will address concerns raised by Indian stakeholders regarding EU sustainability measures, including the Carbon Border Adjustment Mechanism (CBAM) and deforestation regulations.
Commerce Secretary optimistic
Commerce Secretary Sunil Barthwal expressed hope that negotiations with the UK would resume in October.
In February, Union Commerce Minister Piyush Goyal had indicated that while negotiations on the India-UK Free Trade Agreement (FTA) might take time to be finalized, the potential deal is expected to improve Indian exports and protect production-linked incentive (PLI) interests. program beneficiaries, Indian farmers and various industries.
Negotiation history and industry concerns
Negotiations for the India-UK FTA began in 2007, but stalled in 2013 due to disagreements over issues such as tariffs on automobiles and spirits, and movement of professionals. After a nine-year hiatus, discussions have resumed.
Minister Goyal disputed the protectionist stance of some industry players, questioning how India can enter into FTAs with the UK and EU if domestic industries only seek duty-free access to foreign markets while resisting the entry of foreign products in India.
The India-UK and India-EU FTAs are key to strengthening trade relations and removing long-standing trade barriers, with ongoing negotiations aimed at balancing interests and fostering economic growth.
(Edited by: Shoma Bhattacharjee)
First publication: September 17, 2024 5:39 p.m. STI
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