India-EU Trade Talks: Navigating Sensitivities and Strengthening Ties
India and the European Union discussed sensitive issues related to steel, automobiles, and EU regulations in Brussels. Both sides aim to finalize a free trade agreement by 2025. The EU is India's largest trading partner, with $137.5 billion in bilateral trade. Talks emphasized balanced trade frameworks and economic security.
During a recent visit to Brussels, India's Commerce and Industry Minister Piyush Goyal met with European Commissioner for Trade Maros Sefcovic, discussing the sensitive issues surrounding steel, automobiles, and carbon levies with the European Union.
The central goal is to finalize a long-pending free trade agreement by 2025. These discussions are led by guidance from Indian Prime Minister Narendra Modi and European Commission President Ursula von der Leyen, with accelerated negotiations following Donald Trump's re-election.
The EU is India's top trading partner in goods, and both parties aim to create a balanced trade agreement. They explored potential solutions for outstanding issues, emphasizing labor-intensive sectors and regulations, like the EU's carbon levy.
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