India and the European Union (EU) will begin the 11th cycle of negotiations on the free trade agreement (ALE) proposed from Monday, aimed at concluding the first phase of the Pact as soon as possible, said a government official at the PTI news agency.
The discussions, which should continue until May 16 in New Delhi, mark the next step towards a progressive conclusion of the trade agreement. The two parties agreed to finalize the two -step agreement, given the uncertainties in the global commercial environment, in particular those resulting from tariff measures taken during the mandate of American president Donald Trump.
“The EU team will be there for the 11th round of negotiations. It will continue until May 16,” said the official.
The initial phase of the agreement will cover areas where there is already convergence. The second phase is targeted for completion by the end of this year.
The previous series (tenth) of talks addressed problems such as market access in goods, services, investment and government purchases.
India has adopted a two-phase negotiation strategy similar in its agreement with Australia and adopts the same approach in talks with the United States.
Commerce secretary, Sunil Barthwal, recently explained this strategy: “If some of the problems that may not be very fundamental to trade, perhaps take a little more time, then it is better to focus on basic business issues. So, we first say things first … We can also chat with the EU EU which can be the early harvest of the first tranche, where we can do more quickly. ”
On May 10, Barthwal chaired an examination meeting on current negotiations with senior officials involved in the discussions.
The EU is looking for substantial reductions in cars and medical devices, as well as tax reductions on products such as wines, spirits, meat and poultry. He also pleads for a more solid intellectual property rights regime.
If the FTA is successfully concluded, Indian exports such as ready -to -use clothing, pharmaceutical products, steel, petroleum products and electric machines should become more competitive on the EU market.
On May 1, the Minister of Commerce and Industry, Piyush Goyal, visited Brussels to assess the progress of the ALE negotiations.
India and the EU block of 27 members resumed the talks in June 2022 after a break of eight years. Negotiations had stalled in 2013 due to disagreements on the extent of market liberalization.
On February 28, Prime Minister Narendra Modi and the President of the European Commission reaffirmed their commitment to conclude the trade agreement by the end of 2025.
India-EU FTA TALKS covers 23 major areas or chapters, in particular trade in goods, trade in services, investment, health and phytosanitary measures, technical obstacles to trade, commercial remedies, rules of origin, customs and trade facilitation, competition, commercial defense, government purchases, dispute resolution, intellectual rights and sustainable development.
In 2023-24, the bilateral trade of India with the EU reached 137.41 billion USD (exports: 75.92 billion USD; imports: 61.48 billion USD), which makes the largest EU negotiation partner in terms of goods.
The EU represents approximately 17% of the total exports of India, while India represents around 9% of total EU exports.
The bilateral trade in services between the two reached 51.45 billion USD in 2023.
In addition to the ALE, India and the EU also negotiate an investment protection agreement and an agreement on geographic indications (GIS).
In addition, on May 6, India and the United Kingdom announced the conclusion of their negotiations in the area of free trade agreement.
Stay informed of the latest sales news, updates on public holidays and holidays.
The discussions, which should continue until May 16 in New Delhi, mark the next step towards a progressive conclusion of the trade agreement. The two parties agreed to finalize the two -step agreement, given the uncertainties in the global commercial environment, in particular those resulting from tariff measures taken during the mandate of American president Donald Trump.
“The EU team will be there for the 11th round of negotiations. It will continue until May 16,” said the official.
The initial phase of the agreement will cover areas where there is already convergence. The second phase is targeted for completion by the end of this year.
The previous series (tenth) of talks addressed problems such as market access in goods, services, investment and government purchases.
India has adopted a two-phase negotiation strategy similar in its agreement with Australia and adopts the same approach in talks with the United States.
Commerce secretary, Sunil Barthwal, recently explained this strategy: “If some of the problems that may not be very fundamental to trade, perhaps take a little more time, then it is better to focus on basic business issues. So, we first say things first … We can also chat with the EU EU which can be the early harvest of the first tranche, where we can do more quickly. ”
On May 10, Barthwal chaired an examination meeting on current negotiations with senior officials involved in the discussions.
The EU is looking for substantial reductions in cars and medical devices, as well as tax reductions on products such as wines, spirits, meat and poultry. He also pleads for a more solid intellectual property rights regime.
If the FTA is successfully concluded, Indian exports such as ready -to -use clothing, pharmaceutical products, steel, petroleum products and electric machines should become more competitive on the EU market.
On May 1, the Minister of Commerce and Industry, Piyush Goyal, visited Brussels to assess the progress of the ALE negotiations.
India and the EU block of 27 members resumed the talks in June 2022 after a break of eight years. Negotiations had stalled in 2013 due to disagreements on the extent of market liberalization.
On February 28, Prime Minister Narendra Modi and the President of the European Commission reaffirmed their commitment to conclude the trade agreement by the end of 2025.
India-EU FTA TALKS covers 23 major areas or chapters, in particular trade in goods, trade in services, investment, health and phytosanitary measures, technical obstacles to trade, commercial remedies, rules of origin, customs and trade facilitation, competition, commercial defense, government purchases, dispute resolution, intellectual rights and sustainable development.
In 2023-24, the bilateral trade of India with the EU reached 137.41 billion USD (exports: 75.92 billion USD; imports: 61.48 billion USD), which makes the largest EU negotiation partner in terms of goods.
The EU represents approximately 17% of the total exports of India, while India represents around 9% of total EU exports.
The bilateral trade in services between the two reached 51.45 billion USD in 2023.
In addition to the ALE, India and the EU also negotiate an investment protection agreement and an agreement on geographic indications (GIS).
In addition, on May 6, India and the United Kingdom announced the conclusion of their negotiations in the area of free trade agreement.
Stay informed of the latest sales news, updates on public holidays and holidays.
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