Paris (France): The Minister of Commerce and Industry, Piyush Goyal, expressed its optimism on the fact that India could finalize its free trade agreement (ALE) with the European Union (EU) before the end of year deadline, citing minimum differences between the two economic blocks.
Goyal highlighted the complementary nature of Indian and European economies. “There are not too many problems where we have a divergence of opinion. We have the two complementary savings,” he said. “In most cases, which is an offensive interest in India does not harm the European economy. Likewise, the goods and services that Europe would like to provide to India only supports our history of growth. ”
The Minister has recognized that certain sensitive areas require careful negotiation on both sides. “Obviously, in any commercial relationship, there are certain sensitive questions on both sides that we must resolve amicably in the interest of the European Union and India,” noted Goyal.
India has strongly positioned on key questions concerning the EU, in particular with regard to gender equality and sustainability. “We are proud of our sisters and our women and the fantastic work they have accomplished and to do,” said Goyal. “Therefore, if you have a subject like sex, India is on the foot before. Regarding subjects such as sustainability, India is at the front. ”
The two parties have raised specific concerns which must be dealt with in the negotiations. “We have certain concerns about European Union practices and regulations. Likewise, they have certain areas of things they would like to discuss, “said the minister.
Goyal expressed his confidence that these questions could be resolved by fair negotiation. “Some problems are on the table and we will negotiate a fair balance and a free trade agreement,” he said. “There would be many problems on both sides that will be under discussion so that we can find a robust agreement that will support market access and promote easier trade.”
The Minister said that the free trade agreements are independently operated on national trade reforms. “The free trade agreements are on their foot. They have no relationship with our internal internal efforts to make investments and businesses attractive, “he said.
Instead, the FTAs focus on market liberalization that benefits the two savings. “Free trade agreements are more towards the opening of the markets on both sides, which leads to greater competitiveness, to improve productivity and efficiency in all processes,” said Goyal.
The agreement should create broader economic opportunities in several sectors. “It opens the doors to a greater commitment, whether in goods, services, investments, all areas related to the economy,” noted the Minister. “All this benefits 1.4 billion consumers.”
India-EU FTA negotiations represent an important step in strengthening economic ties between India and one of the largest trade blocks in the world. The agreement aims to reduce commercial barriers, improve market access and create new opportunities for businesses on both sides.
The two economies showing complementary forces and shared commitments to sustainability and gender equality, the successful conclusion of the ALE could mark a new chapter in India Economic Cooperation, potentially benefiting millions of consumers and businesses in the two regions. (Ani)
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