Negotiators weigh a model similar to the India-UK Pact that eliminated tariffs on almost all Indian agricultural exports, the above-mentioned people said. India is also considering concessions, such as a reduction in duties for European whiskey and opening parts of government procurement to EU companies.
“It is also expected that India will ensure relief from exports to work, including textiles, gems and jewelry, agricultural goods and engineering products,” said the above person who did not want to be named. “Most of the problems are likely to be completed during a meeting between two leaders (Piyush Goyal and Maroš Šefčovič), and if something remains, another round of interviews will be planned to speed up this free trade agreement (FTA),” the other person said.
The Minister of Commerce Goyal meets Šefčovička, the Commissioner for EU business and economic security on Friday, even as a 28-member team from the EU of the EU Political and Security Committee, organizes a parallel consultation in Nový Delhi. The delegation includes the EU Ambassador to the Political and Security Committee, Delphine Pronk and 27 EU Member States Ambassadors based in Brussels.
The Indian India Trade Agreement assumes that London provides duty-free access to the Indian EV, while the new Delhi gradually reduces tariffs to the top United Kingdom of EV. In the agricultural sector, the Pact of Indian Agricultural goods, such as spices, processed foods and duty -free access to the British market, while India maintains protection for its own domestic dairy products, edible oils and apples.
More than 20 policy areas, including goods, services, investment, customs, intellectual property and sustainable development, are discussed between India and the EU. Interviews come at the time of tense business relations in Delhi with Washington after US President Donald Trump imposed 50% duty on a wide range of Indian goods, including a repressive fee of 25% for Indian Russian ties.
Indian negotiators also seek exceptions from the mechanism of modifying the EU carbon boundaries and quote concerns about its potential burden on the domestic industry, the above people added. 13. The rounds of negotiations on FTA in India-Eu began last Monday and is currently taking place in the capital.
A spokesman for the Ministries of Trade and External Affairs and the EU Commission did not answer e -mail questions.
The aim of India and the EU aims to close the FTA FTA agreement, which could give Indian exporters stronger support in European markets in the middle of growing global business winds.
The EU is the second largest business partner in India, which in 2024 represents a goods trade worth EUR 120 billion, or 11.5% of India’s total trade. India is the ninth largest EU trading partner, which represents 2.4%of the EU total trade in 2024, for the US (17.3%), China (14.6%) and the UK (10.1%), according to the European Commission. However, trade in the EU and India goods has increased by almost 90%in the last decade.
Strict EU environmental rules, including its carbon tax, deforestation regulations and laws on the appropriate supplier chain chain, have emerged as the main point in negotiations on the proposed business agreement with India, as the cost of compliance with Indian exporters could increase.
As part of the carbon boundary boundaries mechanism (CBAM), Indian exports of steel, aluminum and cement to the EU could face 20-35%, even if FTA is signed, the message was added.
Meanwhile, industrial groups and exporters carefully monitor development.
India-Eu FTA can be a converter for textile and clothing sector, said Prabhu Dhamodharan, Convelor Indian Texpreneurs Federation, Prominent Textile Industry Association
“With duty -free access, India may increase to 10% in the first phase, directly competing directly by Bangladesh, which is already used zero duties. At the same time, EU economies consciously reduce their dependence on China because trade deficits with China are increasing due to tilting practices,” he said.
“Thanks to focusing efforts, this FTA has the potential to provide another $ 3-4 billion in business for the Indian textile and clothing sector and further expand to a higher two -digit market share in the coming years,” he added.
(Tagstotranslate) India and European Union
