India: India-EU trade pact: next round of negotiations from the end of November

The next round of talks between India and the European Union (EU) on a draft free trade agreement, which aims to boost trade and investment between the two regions, is expected to start at the end of this month. , said an official. India and the EU formally resumed negotiations on the proposed deal on June 17 this year, after a hiatus of more than eight years.

“The EU delegation will be here on November 28 for the third round of negotiations on the India-EU Trade and Investment Agreement, including Geographical Indications (GIs),” said the responsible.

The second round of negotiations took place in Brussels.

India’s bilateral trade with the EU grew by 43.5% to $116.36 billion in 2021-22.

Currently, the EU is India’s second largest trading partner after the United States and the second largest destination for Indian exports.

According to the Ministry of Commerce, the trade agreement with the EU would help India further develop and diversify its exports of goods and services, including by securing value chains.

Both parties want trade negotiations to be broad, balanced and comprehensive, based on the principles of equity and reciprocity.

A GI is mainly an agricultural, natural or manufactured product (artisanal and industrial products) originating from a specific geographical territory. Typically, such a name conveys an assurance of quality and distinctiveness, which is essentially attributable to the place of its origin.

About Michael Bill

Check Also

Ivan Toney was investigated by the FA over historic gambling allegations for SEVEN MONTHS

EXCLUSIVE: World Cup hopeful Ivan Toney has been investigated by the FA over historic gambling …