India and EU: Accelerating Free Trade Talks Amidst Global Uncertainty

India and the EU are fast-tracking negotiations for a free trade agreement, with the 11th round starting May 12. They are adopting a phased approach, prioritizing core trade issues. Concurrently, India explores trade deals with New Zealand, the UK, Chile, and Peru amidst a volatile global trade landscape.

In a bid to expedite the finalization of a landmark free trade agreement, India and the European Union have scheduled the next negotiation round for May 12. Officials emphasize the pressing need for pace due to global trade volatility.

Assistant Secretary L Satya Srinivas highlighted that discussions have covered crucial areas such as market access, investment, and government procurement, with both parties willing to explore phased negotiations. This strategic focus underscores priority areas in the face of emerging global trade challenges.

While aiming for a 2023 conclusion, India is also actively negotiating trade agreements with New Zealand, the UK, Chile, and Peru, signaling a global push for economic partnerships amidst shifting trade dynamics.

(With inputs from agencies.)