The Minister of Commerce and Industry, Piyush Goyal, said on September 2 that the talks of the Indian-EU (ALE) free trade agreement were at an advanced stadium. The 13th cycle of negotiations is scheduled for September 8, the EU trade commissioner Maroš Šefčovič, going to New Delhi on September 12. He added that India also explores a bilateral trade agreement (BTA) with the United States. Five talks of talks were finished. However, the sixth was delayed after Washington imposed 50% rights on Indian imports.
Goyal noted that India has already finalized the reference conditions for an ALE with the EURAS Economic Union (EAEU). He underlined the opening of India to fair and mutually beneficial agreements. The officials said that India and the EU aimed to conclude their ALE by the end of this year. They can possibly start with an early harvest agreement covering prices, intellectual property, purchases and commercial barriers.
On geopolitical links, Goyal said that relations with China “return to normal” as border tensions facilitate ease. This is due to talks between Prime Minister Modi and President XI at the top of the OCS. India and China have recently agreed to improve border coordination and resume direct flights after five years. This marks a step towards standardization.
He also underlined the diversified supply chains of India, a strong growth in GDP of the first quarter of 7.8% and the coming reforms of the TPS. He urged citizens to save at least 1 kg of food per year to help reduce waste and keep resources.
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