Social security pacts with 13 nations in bloc on fast track

New Delhi: The India-European Union free trade agreement (FTA) will fast-track social security agreements with 13 of the 27 nations in the bloc over the next five years, a move that is expected to benefit Indian professionals working in these countries. India already has a social security agreement with 14 EU member states as these agreements are done bilaterally between nations.

As part of the FTA, announced on Tuesday, India and the EU have agreed on a constructive framework to enable social security agreements in five years with all EU member states.

Commerce secretary Rajesh Agarwal said social security agreements are in the remit of the member states and they do not fall under the limit of the European Commission.

“This is the first FTA wherein we have brought in social security because this is an important need of India, and we have linked it to some of our forward most-favoured nation (MFN) commitments under services,” he said. “For the first five years, these commitments will stand along with the nudge to the member states to move towards social security agreements though these agreements naturally have to be done bilaterally.”