The chief negotiators of India and the EU will hold the next round of talks on the proposed Free Trade Agreement (FTA) starting Monday with the aim of ending the first phase of the agreement as soon as possible. Administration officials said the two sides agreed to be divided into two phases due to uncertain global trade environment, especially due to the U.S. tariff action under President Donald Trump.
The first part of the agreement will include the question of convergence. Their goal is to end the second part by the end of the year. “The EU team will hold the 11th round of negotiations here. It will last until May 16,” the official said.
India follows the practice of negotiating a trade agreement with Australia in two phases. It follows a similar approach to the United States. The last round of negotiations focused on market visits in goods, services, investment and government procurement.
Commerce Minister Sunil Barthwal said last month that if certain issues may not be the core of trade and may take more time, it is best to focus on core trade issues. So let’s talk first thing first… We also talked with the EU about the early harvest of the first batches, which we can do faster. The Secretary held a review meeting with senior officials involved in the negotiations on 10 May.
In addition to demanding sharp layoffs on automobiles and medical equipment, the EU hopes to reduce products such as wine, spirits, meat, poultry and a strong intellectual property system. Exports of Indian goods to the EU, such as ready-made clothing, pharmaceuticals, steel, petroleum products and electrical machinery, will become more competitive if the agreement is successfully concluded.
