India and EU Edge Closer to Finalising Free Trade Agreement

India and the European Union (EU) have moved a step closer to finalizing a Free Trade Agreement (FTA) following a significant week-long round of negotiations in New Delhi. According to the Ministry of Commerce and Industry, the talks, which spanned from November 3 to November 7, saw both parties working towards a comprehensive and mutually beneficial trade deal.

The discussions involved high-level engagement on multiple key aspects, such as goods, services, investment, and sustainable development. Commerce Secretary Rajesh Agrawal met with Sabine Weyand, Director-General for Trade of the European Commission, to assess progress and tackle pending issues within the negotiation tracks. The consultations covered emerging regulatory measures like the Carbon Border Adjustment Mechanism (CBAM) and potential new steel regulations.

Satisfaction was expressed over the progress made, with a consensus reached on various matters. Both sides highlighted the necessity for ongoing technical discussions to bridge remaining differences and expedite the conclusion of the India-EU FTA. The negotiations underscore a robust commitment to strengthening the economic partnership and achieving a trade agreement that promotes resilience and inclusive growth.