India-EU FTA: Talks on, negotiators working to converge on different parts

Union Minister Piyush Goyal said on Tuesday that chief negotiators are working to converge on different parts of a potential India-European Union free trade agreement (FTA).

"Almost 60 per cent of the chapters are completed and finalised," he said.

The minister also said that by the time the EU Trade Commissioner and the EU Food Commissioner arrive in India, "we will be quite set to try and conclude the agreement substantially".

Add Zee Business as a Preferred Source

His remarks come at a time when India and the EU are hopeful of arriving at agreeable terms for a potential FTA.

Prime Minister Narendra Modi and EU leaders have reiterated their commitment to an early conclusion of the trade deal in recent discussions and phone calls.

Both sides have already engaged in several rounds of discussions on key areas.

Earlier this month, a 13th round of negotiations commenced in the national capital, with discussions on a host of issues such as non-tariff barriers, market access and agricultural duties. Both sides are hopeful of framing a pact by the end of the year.

The negotiation chapters reportedly already closed include aspects like intellectual property rights, customs and trade facilitation, digital trade and dispute settlement.

The India-EU FTA aspires to reflect the evolving realities of global commerce by supporting digital transition, promoting diversified and resilient supply chains, the Indian trade ministry said earlier this year.

Both sides have expressed hope that the agreement, once concluded, will serve as a transformative pillar of the broader India-EU strategic partnership.

The India-EU FTA negotiations come at a time when the Donald Trump 2.0 administration's tariff policy has disrupted the global trade landscape.