New Delhi: India and the European Union (EU) on Friday discussed the progress of negotiations on the proposed free trade agreement (FTA), aimed at boosting two-way commerce and investments.
The agreement was discussed during a meeting between Commerce and industry Minister Piyush Goyal and European Commissioner for Trade and Economic Security Maros Sefcovic here.
Sefcovic is accompanying European Commission President Ursula von der Leyen, who is here on an official visit with the EU College of Commissioners or senior political leaders of the bloc.
The meeting assumes significance as the senior officials of the two sides are scheduled to hold the tenth round of negotiations for the FTA from March 10-14 in Brussels.
In January this year, Goyal was in Brussels to meet the European Commissioner for Trade to take stock of the progress of the talks.
Further strengthening of economic ties between the two is crucial in light of the threat from US President Donald Trump to impose higher tariffs.
In the current uncertain global economic situation, India is the fastest growing major economy. It is projected to grow at 6.4 per cent in 2024-25.
In the ninth round, India and the EU discussed trade issues covering goods, services, investment and government procurement along with necessary rules such as rules of origin, SPS (sanitary and phytosanitary), and technical barriers to trade.
In June 2022, India and the 27-nation EU bloc resumed the negotiations after a gap of over eight years. It stalled in 2013 due to differences over the level of opening up of the markets.
