India and EU Look Forward to Robust Free Trade Agreement

Commerce and industry minister Piyush Goyal emphasized India's commitment to forging a fair and equitable free trade agreement (FTA) with the European Union, with efforts underway to finalize negotiations by December-end. EU trade commissioner Maros Sefcovic expressed confidence in achieving a "very good agreement," despite disagreements on certain issues. The two sides aim to unlock new business opportunities and facilitate two-way trade flows under the condition of tariff liberalization.

Key Takeaways:

• Commerce minister Piyush Goyal expressed India's commitment to a robust, fair, and equitable FTA with the EU.
• EU trade commissioner Maros Sefcovic stated that intensive negotiations are underway to achieve a "groundbreaking" deal.
• The automotive market in India is expanding and thriving, with potential for growth and collaboration.
• The 13th round of India-EU FTA talks took place in New Delhi from September 8-12.
• Minister Goyal emphasized the importance of finding a balance in negotiations, rather than striving for a perfect agreement.
• EU trade commissioner Sefcovic emphasized the need for tariff liberalization to facilitate two-way trade flows.

Statistics:

• 13th round of India-EU FTA talks took place from September 8-12.
• New Delhi serves as the venue for India-EU FTA talks.
• EU and India aim to finalize negotiations by December-end.
• The two sides are engaged in intense negotiations for a free-trade agreement.
• The automotive market in India is expanding and thriving.

Sources:

• Europolitics.com
• The European Commission
• The Hindu Businessline
• PTI (Press Trust of India)