14th round of India, EU FTA talks from Monday: EU Ambassador Hervé Delphin
&imwidth=600&imheight=450&format=webp&quality=medium "14th round of India, EU FTA talks from Monday: EU Ambassador Hervé Delphin")
Representative image Photograph: (Reuters)
In 2024, the EU companies in India generated a total turnover of EUR 186 billion, which corresponds to around 5% of the Indian economy. The EU companies exported goods worth EUR 23.5 billion, which accounts for around 6% of total Indian exports of goods.
EU ambassador to India Hervé Delphin has said that the 14th round of India, EU free trade agreement will take place from Monday. Both sides aim to conclude the FTA by the end of the year, a target set during the visit of President of the European Commission Ursula von der Leyen to Delhi, along with the college to Delhi earlier this year. He said that the "negotiating teams are working hard to deliver it. Fair to say the negotiations are challenging and important issues remain to be solved."
Last month, the 13th round took place in Delhi, but the ambassador pointed, that despite the "direct involvement of Commissioners Sefcovic and Hansen on the EU side," the talks "did not result in the sort of breakthrough, which was expected".
So far, both sides have provisionally closed 11 chapters, covering areas such as Intellectual properties, customs and trade facilitation, transparency, good regulatory practices, mutual administrative assistance, SMEs, sustainable food system, dispute settlement, competition and subsidy, digital trade chapter, and anti-fraud practices. The focus remains on enhancing market access and addressing tariff and non-tariff barriers.
"The EU was and is still ready to conclude on a meaningful package. We look forward to the next round and further negotiations towards a mutually beneficial deal", Ambassador Delphin pointed out.
Alongside the FTA, the EU and India are negotiating an Investment Protection Agreement. The Agreement aims to create a predictable, secure, and transparent environment for EU and Indian investors. There are around 6,000 EU companies in India, which have created 3 million direct jobs in the world's 4th largest economy.
In 2024, the EU companies in India generated a total turnover of EUR 186 billion, which corresponds to around 5% of the Indian economy. The EU companies exported goods worth EUR 23.5 billion, which accounts for around 6% of total Indian exports of goods.
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The EU ambassador said that the "FTA can open new opportunities for EU and Indian businesses and create conditions to significantly increase our bilateral trade and investment". In the backdrop of US President Donald Trump's tariffs, Ambassador Delphin said, "while some countries are raising tariffs or otherwise closing their markets, we should use the FTA to diversify trade, hedge against uncertainties and strengthen our supply chains". Trump has imposed tariffs on both India & the EU.
The EU is India’s top trading partner, with bilateral trade in goods of EUR 120 billion, ahead of the US and China. The ambassador said that the bloc is "closing more and more FTAs negotiations with important partners," most recently Mercosur, Mexico, and Indonesia, which "show that the EU is considered as a predictable, reliable and valuable partner."
