India and EU to Strengthen Trade Ties

India and the European Union (EU) are set to begin the 11th round of negotiations on the proposed Free Trade Agreement (FTA) from Monday, May 13, with the aim of concluding the first phase of the pact at the earliest. The talks, which will continue until May 16 in New Delhi, will focus on consolidating areas of convergence between the two parties.

Key Areas of Discussion include market access offers in goods, services, investment, and government procurement. The EU is pushing for duty reductions on products like automobiles and wines, while India seeks improved market access for its key export sectors.

Strategic Approach to Negotiations

Commerce Secretary Sunil Barthwal emphasized the importance of focusing on core trade issues first, suggesting a two-phase approach to the negotiations. This strategy has been previously adopted by India in trade discussions with other countries, including Australia and the United States.

The EU is India's largest trading partner in goods, with bilateral trade reaching USD 137.41 billion in 2023-24. Both parties are also negotiating an investment protection agreement and an agreement on geographical indications (GIs), alongside the FTA.