Free Trade Agreement (FTA) : India and EU likely to restart FTA talks on August 28
- India and the European Union are expected to resume
negotiations on August 28 on the proposed free trade agreement (FTA) to boost
two-way commerce and investment, after a gap of about two years.
- For Indian side, the chief trade negotiator J S Deepak,
Additional Secretary with the Commerce Ministry, and his European Union
counterpart Ignacio Garcia Bercero will meet here on August 28,2015.
- The India-EU trade talks, formally known as the Broad- based
Trade and Investment Agreement (BTIA), remain stuck as both sides are not
satisfied with each other's offers.
- The talks were launched in June 2007 and have missed several
- The 28-nation bloc has demanded tariff cuts in products such
as wines, spirits and automobile, besides inclusion of labour-related aspects.
- It also wants liberalisation in services such as retail and
- On the other hand, India is insisting on data-secure nation
status and immigration quota from the EU.
- The status is crucial as it will have a bearing on Indian IT
companies keen on market access in the 28-nation bloc.
- Indian auto industry is worried that any concessions would
have an adverse fallout and impact 'Make in India' initiative.
- The two-way commerce between the two sides stood at about
USD 99 billion in 2014-15.