: India and the European Union concluded the first round of negotiations for India-EU Trade and Investment Agreements, including the Geographical Indicators (GI), in New Delhi on Friday. The week-long negotiations, aimed at further strengthening economic ties between the two sides, were held in a hybrid mode – with some of the teams meeting in Delhi and the majority of officials joining virtually.
It may be noted that India and the 27-nation bloc resumed negotiations on June 17, after a gap of over eight years, on the proposed agreements on trade, investments and Geographical Indications (GI). Our side’s negotiations were led by Chief Negotiator Ms. Nidhi Mani Tripathi, Joint Secretary, Department of Commerce and EU was represented by its Chief Negotiator, Mr. Christophe Kiener.
Now, the second round of negotiations will be held in September 2022 at Brussels.
During the first round of trade negotiations, 52 technical Sessions covering 18 policy areas of FTA and 7 Sessions on Investment Protection and GIs were held.
India-EU bilateral trade
India’s bilateral trade with EU amounted to $116.36 billion in 2021-22. Despite global disruptions, the bilateral trade achieved an impressive annual growth of 43.5 per cent in 2021-22.
European Union, at present, is India’s second largest trading partner after US, and the second largest destination for Indian exports.
What would India-EU trade agreement achieve?
The trade agreement with EU would help India in further expanding and diversifying its exports of goods and services, including securing the value chains. Both sides are aiming for the trade negotiations to be broad-based, balanced, and comprehensive, based on the principles of fairness and reciprocity.
