India and EU discuss FTA progress at trade and technology council meeting
The talks highlighted the longstanding alliance between India and the EU, with leaders emphasizing the need for a stronger partnership to uphold democratic values and the rule-based global system
New Delhi: India and the European Union (EU) have made significant strides in accelerating the negotiations for a mutually beneficial Free Trade Agreement (FTA), emphasizing a robust partnership.
Bilateral dialogues were held during the inaugural India-European Union Trade and Technology Council (TTC) Ministerial Meeting, according to the Ministry of Commerce & Industry. The key players included India’s Commerce and Industry Minister Piyush Goyal, the EU’s Executive Vice-President overseeing an Economy that Works for People, and EU Trade Commissioner Valdis Dombrovskis. Senior officials from both parties were also in attendance.
The talks highlighted the longstanding alliance between India and the EU, with leaders emphasizing the need for a stronger partnership to uphold democratic values and the rule-based global system.
The Indian ministry confirmed the focus was on expediting the FTA negotiations, addressing all relevant issues while considering each party’s sensitivities, notably about market access. Leaders expressed their conviction that a well-balanced FTA would stimulate economic growth and create employment opportunities on both sides.
The leaders also pledged to work together on shared priorities at the World Trade Organization (WTO), emphasizing the importance of consensus-based solutions. They expressed optimism that the joint efforts would yield tangible outcomes at the upcoming WTO Ministerial Conference.
Minister Goyal and commissioner Dombrovskis subsequently co-chaired a Working Group 3 Stakeholders meeting. Representatives from various sectors in India and the EU attended the session, discussing trade, investment, and resilient supply chains.
The EU was represented by key industrial bodies, including Business Europe and Digital Europe, while Indian attendees represented multiple sectors such as chemicals and digital infrastructure. Some sectors, such as the agri-food industry, participated remotely.
The dialogues at the India-European Union TTC Ministerial Meeting demonstrate a shared dedication to strengthening partnerships and enhancing collaboration across a broad range of domains.