India-EU Free Trade Talks: Driving Towards a Balanced Agreement

India and the EU are in discussions for a free trade agreement that requires political direction to achieve a commercially meaningful outcome. The negotiations aim to balance mutual sensitivities and incorporate sustainability principles. The potential deal could expand India's trade footprint in both goods and services with the EU.

The negotiations on a free trade agreement (FTA) between India and the European Union (EU) have reached a stage where political guidance is essential for a commercially viable outcome. This statement was issued on Thursday by Indian officials.

The matter featured prominently during a meeting involving Commerce and Industry Minister Piyush Goyal and the EU's Commission delegation's ambassadors. Minister Goyal articulated that both governments are aiming for an FTA that is balanced, ambitious, comprehensive, and mutually advantageous.

Goyal emphasized the necessity of addressing sustainability discussions in light of the principle of 'Common But Differentiated Responsibility (CBDR)'. These talks gain significance in the context of India's concerns about the EU's carbon tax policies and deforestation regulations. The FTA seeks to expand India's export markets while strengthening supply chains.

(With inputs from agencies.)