India and the European Union have reaffirmed their commitment to conclude a long-awaited free trade agreement (FTA) by the end of 2025.Commerce and Industry Minister Piyush Goyal met with the European Union Commissioner in Brussels this past week, as part of a series of intense and ongoing negotiations with both the EU and the United Kingdom. These talks are part of India’s wider efforts to deepen trade ties with multiple global partners.
Goyal’s recent visit to London, Oslo, and Brussels marks a renewed push by India to wrap up key trade deals. With talks gaining momentum, both sides are said to be working through outstanding issues. Sources have told CNBC-TV18 that the minister is expected to return to London soon for another round of discussions to finalise the UK-India trade agreement.
A key focus for India has been ensuring that both tariff and non-tariff barriers are addressed fairly. New regulations should be applied equitably, Indian officials have stressed, as they seek a level playing field for Indian businesses.Concerns have also been raised about proposed EU measures such as a carbon tax and the deforestation regulation. Both Indian industry and government representatives have flagged these proposals as potential risks to Indian exports and competitiveness. India has previously described such rules as “lopsided,” arguing they could unfairly hurt its interests.Despite progress, a few critical issues are still pending before the UK FTA can be signed. These include matters related to a bilateral investment treaty and the treatment of financial services. In addition to the FTA, both sides are also working on two other agreements—a bilateral investment treaty and a social security or convention agreement.
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