India, EU Fast-Track Free Trade Agreement Talks Ahead Of Key Delegation Visit

India and the European Union have reaffirmed their resolve to wrap up negotiations on their Free Trade Agreement (FTA) as early as possible, India's Commerce Minister Piyush Goyal has said.

In a post on X, he added that a balanced, mutually beneficial deal would open up fresh opportunities for businesses and citizens on both sides.

The renewed push comes ahead of an EU delegation's visit, with Trade Commissioner Maroš Šefčovič and Agriculture & Food Commissioner Christophe Hansen scheduled to meet Indian officials on September 12 and 13 to assess progress.

Goyal noted that around 60 - 65% of the agreement's chapters are already finalized, signalling momentum in areas like goods, services, investment, technical barriers, and regulatory cooperation. However, sticking points remain in sectors such as agriculture, market access for certain goods, and rules of origin.

Boost For Exports

This comes a few days after the EU approved 102 additional Indian fishery establishments for exports. Given that the US recently imposed steep tariffs on Indian seafood, the EU's decision offers exporters an alternative growth market. China, Japan, and Vietnam are the other key markets for Indian marine products.

The India-European Union Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) is expected to come into effect later this year. India has emphasised equal focus on non-tariff barriers (NTBs) alongside tariff discussions and proportionate regulatory frameworks.

Key trade deals over the last five years include the India - Mauritius CECPA in 2021, the India - UAE CEPA and India - Australia ECTA in 2022, and the India - EFTA TEPA in 2024. Earlier this year, India concluded the India-UK CETA, which is signed but yet to be implemented.

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