India-EU Free Trade Agreement to be Completed Soon: Harivansh

Strategic Insights -

The India-EU Free Trade Agreement (FTA) is expected to be completed soon, according to Rajya Sabha Deputy Chairman Harivansh. Harivansh expressed confidence that the agreement will be a balanced and mutually beneficial deal for both India and the European Union. He emphasized that the conclusion of the FTA would be a win-win situation for both sides, amid the uncertain geopolitical realities of today. Harivansh also highlighted the strong economic ties between India and the EU, with the EU being India's leading trade and investment partner.

Key Takeaways:

  • The India-EU Free Trade Agreement (FTA) is expected to be completed soon, according to Rajya Sabha Deputy Chairman Harivansh.
  • Harivansh expressed confidence that the agreement will be a balanced and mutually beneficial deal for both India and the European Union.
  • The EU is India's leading trade and investment partner, as well as a major source of technology.
  • The India-EU FTA is expected to further strengthen the trusted partnership between the two sides.
  • A number of pathways mentioned in the new strategic EU-India agenda are already under discussion, including the finalisation of the India-EU FTA by the year-end.
  • The Joint Communication announced by the EU in September, outlining a "new India-EU Strategic Agenda" to elevate the partnership, has been described as a very positive development by Harivansh.

Statistics:

  • The EU is India's largest bilateral trading partner in goods, according to the statement issued by Harivansh's office.
  • The EU was India's largest bilateral trading partner in goods in the last financial year, according to Harivansh.
  • The India-EU FTA is expected to be finalised by the year-end, as mentioned in the new strategic EU-India agenda.

Sources:

  • Rajya Sabha Deputy Chairman Harivansh
  • "Rajya Sabha Deputy Chairman Harivansh welcomes EU Parliament's initiative on India-EU FTA" (Source: Pioneer)
  • European Parliament's Committee on International Trade Affairs (INTA)
  • "India-EU Strategic Agenda" (Joint Communication announced by the EU in September)
  • Statement issued by Harivansh's office
  • "EU-India: A partnership for the future" (Source: European Union)