Commerce and Industry Minister Piyush Goyal said more than 50 per cent of the chapters of the India-European Union Free Trade Agreement have been agreed by both sides.
Goyal said on Wednesday that the EU had accepted nearly 10 of the FTA’s 20 chapters, which covered several areas. He added that four to five other chapters have been decided on a principled basis.
He said India had put forward its views on the EU’s carbon border adjustment mechanism during the FTA negotiations and the CBAM discussions were “going in the right direction”.
The minister added that the negotiations saw convergence on more issues. He said the EU representative delegation would visit India next week to discuss the FTA.
Goyal noted that India plans to conclude the deal when EU Trade Commissioner Maroš Šefčovič visits New Delhi in late November or the first week of December. This delegation will conclude negotiations at the technical level on tariff schedules and market access. Goyal will travel to New Zealand next week to “substantially conclude” the FTA negotiations.
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