India and EU: Closing in on Historic Free Trade Agreement

India and the European Union are on the brink of finalizing a Free Trade Agreement, designed to create a modern economic partnership. Officials have held intensive talks, focusing on key areas such as duty cuts and protecting local industries, aiming to conclude negotiations before upcoming India-EU summit events.

India and the European Union (EU) are inching closer to cementing a Free Trade Agreement (FTA) that promises to reshape their economic landscape. Talks in Brussels, led by India's Commerce and Industry Minister Piyush Goyal and EU Trade Commissioner Maros Sefcovic, revolve around establishing a framework that champions farmers and MSMEs.

The intensive discussions follow a series of high-level meetings between officials, including India's Commerce Secretary Rajesh Agrawal. The anticipated summit set for January 27 underscores the urgency to conclude the negotiations, coinciding with the Republic Day celebrations graced by top EU dignitaries.

As the 16 rounds of talks aim to bridge lingering differences, critical issues include zero-duty access for India's textiles and leather, alongside the EU's demands for duty reductions in sectors like automobiles and medical devices. The talks extend to a comprehensive investment protection agreement and geographical indications, marking a crucial phase in India-EU trade relations.

(With inputs from agencies.)