India and the EU are committed to work for a balanced and mutually beneficial free trade agreement soon, Commerce and Industry Minister Piyush Goyal earlier said on Saturday.
He said that while India and the EU may not agree on all issues, he is confident of achieving a “very good agreement”. “India, EU teams are engaged in intense negotiations for a free-trade agreement,” said Goyal.
India and the EU held the 13th round (September 8-12) of negotiations for the agreement. Sefcovic and the European Commission’s Agriculture Commissioner Christophe Hansen were in India to review the progress of talks with Goyal.
EU is seeking duty concessions in the auto sector from India. India has provided duty concessions in the sector for UK firms under a trade pact between the two countries, which was signed on May 6 this year.
India at present levies over 100 per cent duty in the auto sector.The EU Trade Commissioner also said the EU-India relationship is not just about trade, it is about the high-value-added investment that will create additional thousands and millions of jobs.A number of European auto firms, such as Volkswagen and Mercedes-Benz, have set up manufacturing units in India
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