India, EU Push For Swift Conclusion Of FTA Negotiations

The European Union and India have agreed to intensify efforts to arrive at an early conclusion of their Free Trade Agreement, according to an official statement said on Tuesday.

Commerce and Industry Minister Piyush Goyal and European Union's Commissioner for Trade and Economic Security Maroš Šefčovič reviewed the progress of the negotiations in New Delhi over the past two days.

Both parties have held talks to expedite the conclusion of the India-EU FTA and deepen the trade relationship, the Indian commerce ministry said in a statement.

The discussions were aimed at providing strategic guidance to the FTA negotiating teams as both sides work towards concluding the agreement at the earliest, it said.

The meeting between the two takes place against the backdrop of the technical discussions held from Dec. 3-9 here across key chapters of the pact covering Market Access for Goods, Rules of Origin, Services, and Technical Barriers to Trade.

"Both sides took note of the steady progress achieved across various negotiating tracks and agreed on the need to sustain the current momentum through continued exchanges," it added.

The ministerial-level discussions reaffirmed the strong political resolve on either side to address pending issues through constructive engagement and to work towards a comprehensive, mutually advantageous outcome, it added.

The visit of the EU team "concluded with both parties expressing confidence and a renewed determination to intensify efforts toward the early conclusion of a modern, comprehensive, and mutually beneficial agreement," the ministry said.

If concluded, the India–EU FTA could become one of India’s biggest trade pacts, unlocking new opportunities in goods, services, green technologies, digital trade, and manufacturing.

(With inputs from PTI)