FTA: Will formally launch FTA negotiations with India very quickly: EU

European Union Government Vice-President and Commerce Commissioner Valdis Dombrovskis has mentioned the EU will formally launch negotiations for the proposed free commerce settlement with India “very quickly”. He has held a gathering with Commerce and Business Minister Piyush Goyal on the sidelines of the WEF meet in Geneva.

“Glorious assembly with Minister Goyal @PiyushGoyal from India. Will formally launch Free Commerce Settlement negotiations very quickly,” in accordance with a tweet by Dombrovskis.

India’s Commerce Secretary BVR Subrahmanyam in April had mentioned that India and the 27-nation European Union (EU) will restart negotiations for his or her long-pending free commerce settlement in June.

The proposed settlement, formally dubbed as Broad-based Commerce and Funding Settlement (BTIA) between India and the EU has been stalled since Could 2013 as a result of a number of points.

BTIA is a proposed complete free commerce settlement being negotiated by the 2 sides.

India’s merchandise exports to EU member nations stood at about USD 65 billion in 2021-22, whereas imports aggregated to USD 51.4 billion.

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