India-EU Free Trade Agreement talks to be held in New Delhi from June 19 to 23

India and the European Union (EU) are set to hold negotiations for a Free Trade Agreement (FTA) in Delhi from June 19th to 23rd. The talks, which were relaunched in June of last year, hold the ambitious goal of reaching a comprehensive agreement by the end of this year.

The forthcoming discussions follow the successful meeting of the Trade and Technology Council (TTC) held last month in Brussels, marking another significant milestone in the growing partnership between India and the EU. India was represented at the meeting by three ministers, EAM Jaishankar, Trade Minister Piyush Goyal and Union Minister of State for Electronics and IT Rajeev Chandrasekhar at the meeting.

India's trade relationship with the EU has been on an upward trajectory, with the EU currently serving as India's third-largest trading partner. In 2021, bilateral trade in goods between the two stood at an impressive €88 billion, constituting 10.8% of India's total trade. Similarly, India ranked as the EU's 10th largest trading partner, accounting for 2.1% of its total trade in goods. Furthermore, trade in services between the two sides amounted to €30.4 billion in 2020.

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The resumption of FTA negotiations signals a renewed commitment to bridging the gap in ambition that had led to their suspension in 2013. Since then, both India and the EU have recognised the untapped potential for deepening economic collaboration. The talks aim to establish a comprehensive agreement that encompasses various sectors, including goods, services, and investment

Notably, a digital trade track discussion is scheduled to take place on June 15th and 16th, ahead of the main negotiations. This highlights the growing importance of digital trade and emerging technologies in shaping the global economic landscape.

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