Amid tariff-induced volatility, trade talks between India and the European Union will kick off in New Delhi from Monday. EU negotiators are reaching New Delhi to iron out major concerns. The two officials in charge of agriculture and trade will lead the discussion.
The development comes days after Prime Minister Narendra Modi held extensive discussions with EU leaders to fast-track the FTA and aim for a December deadline. European Commission's trade chief Maros Sefcovic and agriculture commissioner Christophe Hansen, who are equivalent to Cabinet Ministers, are leading a 30-member team from Brussels.
The EU officials are slated to meet India's Commerce Minister Piyush Goyal and Agriculture Minister Shivraj Singh Chouhan. It should be noted that, as part of the negotiations, India has already kept rice, dairy, and sugar out of the ambit. Agriculture and dairy have been the red lines for India not only in discussions with the EU but with the US as well.
As per a PTI report, the issues relating to non-tariff barriers are key agenda as both sides hope for a "right equilibrium" during the New Delhi talks. The two sides have already concluded negotiations on 11 chapters. Previous rounds of talks included discussion on dispute settlement, subsidies, capital movements, customs and trade facilitation, sustainable food system, digital trade, small and medium-sized enterprises and competition.
While the 13th round of negotiations for the FTA will be held this week in New Delhi, the next round has been slated for early next month in Brussels.
(With PTI inputs)
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