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Two phases will make up the India-EU free trade agreement; Another round of FTA negotiations is over
FTA: The 11th round of talks between India and the European Union focused on market access, especially related to goods, services, and investment. India had started the policy of implementing trade agreements in two phases with Australia, and is currently working on the same in talks with the US.
India and the European Union have agreed to implement a free trade agreement in two phases. Both parties have concluded a further round of FTA talks, and it was decided in this context that the agreement needs to be implemented in two phases. The 11th round was concluded on May 16, said an official. Both parties agreed to implement it in two phases in light of the uncertain international trade scenario, especially US President Donald Trump's tariff proposal.
The 11th round centered around market access, largely in terms of goods, services, and investments. India began the process of tariff cuts in two phases in its agreement with Australia and is now carrying out the same in its discussions with the US.
Commerce Secretary Sunil Barthwal had said last month, "If some issues which are not very important for trade and are taking more time to decide, then it is better that we focus on the central issues of trade. So we say, first things first. With the EU also we are also considering what things we can decide in the first round, things on which we can decide quickly."
