Commerce and industry minister Piyush Goyal, who is on a two-day official visit to the EU for the talks, held high-level talks with EU Trade and Economic Security Commissioner Maros Sefcovic for securing a mutually beneficial FTA.
“In continuation of our efforts to secure a mutually beneficial India-EU Free Trade Agreement (FTA), I held high-level talks with the EU Trade and Economic Security Commissioner, Mr. @MarosSefcovic, in Brussels,” Goyal said in a post on X.
The talks are crucial as the two sides are looking at concluding the talks at the earliest. The India-EU Summit is expected on January 27 here and the top EU leadership will grace the Republic Day parade as the chief guest on January 26.
“During this dialogue, we deliberated across key areas of the proposed agreement. We reaffirmed our commitment to a rules-based trading framework and a modern economic partnership that safeguards the interests of farmers and MSMEs while integrating Indian industries into global supply chains,” Goyal said.
The ministerial engagements follow a week of intensive deliberations in Brussels, building upon the groundwork laid during high-level discussions held earlier this week (January 6-7) between commerce secretary Rajesh Agrawal and Director General for Trade of the European Commission Sabine Weyand. So far 16 rounds of negotiations have been held.
India is pushing for zero-duty access for its labour-intensive sectors, such as textiles and leather while the EU is demanding significant duty cuts in automobiles, medical devices, wine, spirits, meat, poultry, and a strong intellectual property regime.
The India-EU trade pact negotiations cover 23 policy areas or chapters, including trade in goods, services, investment, trade remedies, rules of origin, customs and trade facilitation, competition, government procurement, dispute settlement, intellectual property rights, geographical indications, and sustainable development.