Delhi, 29 October (H.S.): India and the European Union have made significant headway in their Free Trade Agreement (FTA) negotiations, with officials hopeful a deal can be finalized by the end of the year following high-level talks in Brussels.

Union Minister for Commerce and Industry, Piyush Goyal, met with Maroš Šefčovič, the European Commission's Commissioner for Trade and Economic Security, and his team from October 26 to 28. The Ministry of Commerce and Industry announced on Wednesday that the intensive discussions focused on resolving outstanding issues in the proposed agreement.

Both sides reiterated their commitment to forging a pact that is balanced, equitable, and transparent, reflecting the strategic trust between India and the EU. The push to conclude the negotiations by year-end follows a directive from Prime Minister Narendra Modi and European Commission President Ursula von der Leyen, established during the 'College of Commissioners' visit to New Delhi in February.

Key points of discussion included:

India's insistence that the agreement must equally address both tariff and non-tariff barriers to establish a predictable trade framework.

Detailed talks on India's concerns regarding non-tariff measures and new EU regulations, including the Carbon Border Adjustment Mechanism (CBAM).

Minister Goyal's emphasis on the need for special concessions for India's labor-intensive sectors.While an agreement was reached on finalizing non-sensitive industrial tariff lines, further deliberations are required on sensitive areas such as steel and automobiles.

To build on this progress, an EU technical team is scheduled to visit India next week to advance the talks.

---------------

Hindusthan Samachar / Jun Sarkar