[ad_1]
NEW DELHI: As the seventh round of India-EU FTA negotiations begins, Union Commerce Minister Piyush Goyal says India negotiates trade and investment agreements with fairness and generosity, taking into account the interests of its people. Ta.
This will be important at a time when India is negotiating free trade agreements (FTAs) with the UK, Oman and the European Union. An Indian delegation led by Business Secretary Sunil Balswal is in the UK to discuss thorny issues such as visas for Indian professionals.
The dialogue between India and the EU focuses on the Investment Protection Agreement (IPA) and the Agreement on Geographical Indications (GI). The seventh round of trade negotiations began on February 19th.
The minister said countries negotiating free trade agreements or investment agreements with India should keep in mind that New Delhi offers a huge market in terms of demand and business opportunities.
“Over the next 30 years, India will offer the world a very young population. This large pool of talent and skilled talent will bring opportunities, demand and demographic benefits,” the minister said on Wednesday. Remarked at the CII India-Europe Conference.
Focusing on inclusivity and gender equality, Goyal said, “This country is not only committed to women’s growth, but also women-led development.”
He said he believes that India, with its strong macroeconomic fundamentals and abundance of ambitious young talent, will continue to expand rapidly as we work together to expand our international relations.
Key issues in the India-EU FTA negotiations include India’s trade disputes at the World Trade Organization over products such as mobile phones and components, integrated circuits and optical equipment.
Geographical indications are an important topic, and both sides aim to advance discussions in this area. According to the EU website, these bilateral agreements aim to make significant advances in the protection of geographical indications, similar to the standards that the EU upholds in the protection of geographical indications within the territory of trading partners. The aim is to strengthen the standards to the standards of
At the 6th round of talks between the EU and India held in October 2023, progress was made on 18 of the 23 chapters. In the seventh edition, the EU delegation will visit India in several parts.
Speaking at the meeting, Slovakia’s Foreign Minister Juraj Branár said that as an EU member state, Slovakia is interested in deepening the strategic partnership between the EU and India.
Mr. Brannal said that the priority for the Slovak Republic is the successful conclusion of comprehensive FTAs, investment protection agreements and agreements on geographical indications.
The EU is India’s second major export destination after the US. However, non-tariff barriers have contributed to a decline in India’s intra-regional exports of goods over the past two decades. FTAs have the potential to reduce tariffs and address barriers affecting India’s agricultural exports.
Unlock a world of benefits! From insightful newsletters to real-time inventory tracking, breaking news and personalized newsfeeds, it’s all here, just a click away. Log in here!
[ad_2]
Source link
