New Delhi: India and the European Union have concluded the 11th cycle of negotiations on their free trade agreement (ALE) proposed, apparently agreeing to continue a two-step approach to finalize the agreement, an official source, quoted by the PTI PTI PTI news agency.“The 11th round of talks ended on May 16,” said the manager, quoted by the PTI news agency. This occurs in an increase in world trade uncertainties, in particular in the light of American tariff policies under President Donald Trump. In response, the two parties opted for a progressive strategy, similar to the previous commercial pacts of India with Australia and ongoing discussions with the United States.Negotiators have focused on key areas such as market access for goods, services and investments. The trade secretary, Sunil Barthwal, had previously explained the justification of the progressive approach, saying: “If some of the questions that may not be very fundamental to trade, perhaps taking more time, then it is better to focus on basic trade issues. So we say that the first things are first discussing with the EU what can be the early harvest We can do on the part.“”The EU asked for reductions in significant prices on products, including cars, medical devices, wines, spirits, meat and poultry, as well as stronger intellectual property protections.A successful agreement should improve the competitiveness of India exports to the EU in sectors such as ready -to -use clothing, pharmaceutical products, steel, petroleum products and electric machines.CThe Minister of Ormerce and Industry, Piyush Goyal, examined progress during his visit to Brussels on May 1. The talks resumed in June 2022 after an interruption of eight years, after a break in 2013 on market access problems.Prime Minister Narendra Modi and the president of the European Commission Ursula von der Leyen committed on February 28 to conclude the agreement by the end of 2025.Negotiations cover 23 political areas, including trade in goods and services, investment protection, customs procedures, technical obstacles, intellectual property rights and sustainable development.In 2023-2424, trade in EU bilateral products in India was $ 137.41 billion, with Indian exports worth $ 75.92 billion and imports to $ 61.48 billion, which makes EU’s largest negotiation partner. The EU represents approximately 17% of the total exports of India, while exports to India represent 9% of total sales abroad.In addition to the ALE, talks continue on a bilateral agreement on investment protection and recognition of geographic indications (GIS).
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