FX.co ★ India, EU Set to Resume Trade Pact Talks in Brussels

Senior officials from India and the European Union (EU), comprising 27 member nations, are set to commence the next phase of discussions concerning a proposed Free Trade Agreement (FTA) starting Monday in Brussels. The objective is to resolve existing disparities and expedite the finalization of the negotiations, as reported by The Economic Times. This forthcoming session marks the 14th round of negotiations between the two parties and is scheduled to take place over five days, beginning on October 6. Commerce and Industry Minister Piyush Goyal has expressed optimism regarding the imminent signing of the agreement. Negotiations were renewed in June 2022 after a pause of more than eight years and are focused on reaching a comprehensive agreement that includes an investment protection accord and a pact on geographical indications. The EU is looking for substantial tariff reductions, particularly on products such as automobiles, medical devices, wine, meat, and poultry. The EU comprises approximately 17% of India's total exports, while the bloc's exports to India constitute about 9% of its overall global shipments.