India has raised concerns about barriers faced by its domestic industry in the European Union (EU) markets and has urged for these issues to be addressed, as per an official statement released on Friday, December 20, 2024.
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The obstacles, as well as the progress of the proposed free trade agreement between India and the EU, were discussed during a virtual meeting between Commerce and Industry Minister Piyush Goyal and European Commissioner for Trade and Economic Security Maros Sefcovic last night.
“Minister Goyal highlighted that non-tariff barriers were hindering trade and stressed the importance of addressing longstanding issues as a confidence-building measure,” stated the Commerce Ministry.
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Both parties agreed to explore a balanced, equitable, ambitious, and mutually beneficial Free Trade Agreement (FTA), the statement added.
After nine rounds of intense negotiations, discussions on the FTA require strategic political guidance in order to finalize a commercially significant and mutually beneficial agreement, taking into account the sensitivities of both sides, the Ministry explained.
Published – December 20, 2024 04:27 pm IST
