The Minister of Commerce and Industry, Piyush Goyal, met the European Union commissioner in Brussels last week, as part of a series of intense and in progress with the EU and the United Kingdom. These talks are part of India’s wider efforts to deepen trade links with several global partners.
Goyal’s recent visit to London, Oslo and Brussels marks a renewed push from India to conclude key trade agreements. With discussions gaining momentum, both parties would be through pending problems. Sources have told CNBC-TV18 that the minister should return to London soon for another series of discussions to finalize the UK’s trade agreement.
A key objective for India has been to ensure that price and non -tariff barriers are treated fairly. New regulations should be applied fairly, Indian officials have stressed because they are looking for a fair playground for Indian companies.
Concerns have also been raised concerning proposed EU measures such as carbon tax and deforestation regulations. Indian industry and government representatives reported these proposals as potential risks for Indian exports and competitiveness. India previously described rules like “unbalanced”, arguing that they could unjustly harm its interests.
Despite progress, some critical problems are still pending before the British FTA could be signed. These include questions related to a bilateral investment treaty and the processing of financial services. In addition to the ALE, the two parties also work on two other agreements: a bilateral investment treaty and a social security or agreement agreement.
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