Minister of Trade and Industry of the Union PIYUSH Goyal during discussion with the EU Commissioner Maros Sefcovic on India-Eu FTA and the progress of the Commercial and Technology Council in Nový Dilli. File | Photo Credit: Neither
Both parties agreed to conclude an agreement in two phases because of the uncertain global business environment, mainly because of US tariff actions under President Donald Trump
The main negotiators of India and the European Union (EU) will launch another round of interviews on the proposed free trade agreement (FTA) here from Monday (12 May 2025), in order to conclude the first phase of the contract as soon as possible.
Both parties agreed to conclude an agreement in two phases due to the uncertain global business environment, mainly because of the US tariffs under President Donald Trump.
“The EU team will be here for the 11th round. It will continue until 16 May,” the clerk said.
Problems in which convergence would be included in the first part of the agreement. The aim is to close the second part by the end of this year.
Interviews for the previous (tenth) round focused on areas such as market access, offers goods, services, investments and government contracts.
India followed the practice of negotiating business pacts in two phases with Australia. It follows a similar approach to the US
Trade Minister Sunil Barthwal said last month that “If some problems that may not be very crucial for trade may take some time, then it is better to focus on basic business problems. So we say that we first discuss the first things with the EU with the EU.
Requires a tax reduction
In addition to demanding significant cuts in cars and medical devices, the EU wants to reduce tax products such as wines, spirits, meat, poultry and a strong intellectual ownership regime.
Export Indian goods to the EU, such as finished garments, pharmacies, steel, oil products and electric machines, can become more competitive if the impact is then successfully closed.
1st May was discussed in Brussels about progress in an agreement in Brussels in Brussels.
In June 2022, India and the 27 EU Block continued after negotiations after a gap over eight years. In 2013 it was stopped due to differences from the market opening level.
28 February, Prime Minister Narendra Modi and the President of the European Commission agreed to conclude a highly expected free trade agreement by the end of this year.
Negotiations on business paws in India-Eu apply to 23 areas or chapters, including goods trade, service trade, investment, hygienic and phytosanite measures, technical obstacles to trade, remedies, rules of origin, customs and business facilitating, economy, business contracts, government procurement, dispute and sustainable development. Indian bilateral trade in the EU goods was $ 137.41 billion in the years $ 2023-24 (exports – $ 75.92 billion, imports – 61.48 billion USD), making it the largest business partner for goods.
The EU market represents about 17% of India’s total exports, while exports to India make up 9% of total exports.
In addition, bilateral trade in services in 2023 between India and the EU was estimated at $ 51.45 billion.
Both parties negotiate a free trade agreement, an agreement on the protection of investment and an agreement on geographical indications (GIS).
India and the United Kingdom announced on May 6. The conclusion of a free trade agreement.
Published – May 11, 2025 22:57 is
