EU’s business manager Maros Sefcovic will go to New Delhi next week while talks on a free trade agreement with India are making “rapid progress,” Indian Minister of Commerce Piyush Goyal said on Thursday.
The visit occurs shortly after American pricing hikes on Indian goods have entered into force.
Negotiations with the EU, in a standstill for eight years before resuming in 2021, are now at an advanced stage, with the next series of talks considered to be crucial to conclude an agreement by the end of the year.
The EU is looking for steep prices on cars, medical devices, wine, spirits and dairy products, while India has better access for textiles, pharmaceuticals, steel and oil.
The EU is the largest trading partner in India, the trade reaching $ 137.5 billion in 2023/24, double in a decade.
The president of the European Commission, Ursula von der Leyen, reaffirmed the EU’s objective to conclude the agreement this year after having spoken with Prime Minister Modi.
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