Negotiating countries are now using NTBs or NTMs to drive hard bargains in commercial negotiations
Goyal also highlighted concerns surrounding the EU’s carbon tax regulations and deforestation initiatives, which are expected to increase the cost of Indian exports
The two countries are working to take up several issues, including India-EU FTA, skills development, Make-in-India campaign, defence production, railways, renewable energy and trade and commerce.
In a set back to talks for the long-pending India-EU FTA, the chief negotiators' meet today failed to bridge "substantial gaps" on crucial issues, including insurance and data security status for IT sector, creating a bleak possibility of a ministerial meet next month.
CNBC-TV18 Rituparna Bhuyan, quoting sources, reports that the ambitious India-EU FTA, is unlikely to be signed in the remaining tenure of the UPA government.
CNBC-TV18‘s Rituparna Bhuyan reports, quoting sources, that there is virtually no scope for passing the Insurance Bill and as a result the 49-percent FDI in insurance, a must-have for the EU to ink the free-trade deal with India, will not be possible
Dubbed as the mother of all free trade deals, the India-EU FTA has spooked the Indian auto industry.
Stating that India will gain nothing from the proposed FTA with the European Union, automobile industry body SIAM today reiterated that the sector should be kept out of the purview of the pact.
Concerned over the impact of the proposed India- EU free trade agreement, which is currently in the final stages of negotiations, heavy industries minister Praful Patel has written to prime minister Manmohan Singh and sought his intervention to protect the interests of the Indian auto sector.
At a time when the Indian automobile industry is strongly opposing lowering of import duty in the proposed India-EU FTA, Tata group chief Ratan Tata has favoured cutting tariff on vehicles and components coming from overseas.