India-EU Trade Talks: Strides Toward a Landmark Free Trade Agreement

External Affairs Minister S Jaishankar and EU Trade Commissioner Maros Sefcovic discuss the India-EU free trade agreement. With the EU as India's biggest trade partner, the agreement aims to strengthen ties and address unresolved issues in steel, cars, and carbon tariffs before the upcoming summit in New Delhi.

External Affairs Minister S Jaishankar met with EU Trade Commissioner Maros Sefcovic on Monday to discuss the India-EU free trade agreement as Sefcovic visited New Delhi to advance negotiations on the deal.

The meeting comes on the heels of continued trade discussions ahead of the India-EU summit next week, where both sides aim to finalize this long-awaited agreement. Issues relating to agricultural market access and alcoholic beverages have been resolved but challenges remain on steel, cars, and carbon tariffs.

The EU, India's largest trade partner, saw bilateral trade reach USD 135 billion in the 2023-24 financial year. The proposed trade agreement is expected to enhance the economic partnership significantly by the end of the year, in the wake of global trade disruptions.

(With inputs from agencies.)