Bargaining with Brussels: India-EU free trade talks in focus

India and the EU aim to finalize a free trade agreement by year-end, focusing on investment protection and digital trade interoperability. Key negotiation points include lower tariffs on textiles, enhanced market access, and mutual recognition of e-signatures, while addressing challenges such as India’s import duties and the EU’s green measures.

India’s Trade Minister Piyush Goyal commenced an unexpected trip to the United States to negotiate trade terms due to upcoming reciprocal tariffs from President Donald Trump, worrying Indian exporters. Goyal will aim to clarify these tariffs’ impacts and potentially discuss concessions and a trade deal to mitigate losses estimated at $7 billion annually.

European Commission chief Ursula von der Leyen and her team visited India to strengthen EU-India relations, announcing plans for a free trade agreement and a defense partnership. This visit highlights a shift in European strategy to broaden alliances amid global tensions.

Commerce and Industry Minister Piyush Goyal will visit Washington to discuss a bilateral trade agreement with the US. India and the US aim to double commerce to USD 500 billion by 2030 and finalize an agreement by 2025. Amid rising tariffs, both nations plan to make concessions as their economies complement each other.

India’s exports to the US include products like iPhones and solar panels with low local value addition, leading to minimal economic gains for India. Think tank GTRI urges the government to ensure the US understands India’s WTO-compliant import duties. With upcoming trade talks, India must strategize to avoid escalated trade tensions while explaining its tariff […]

India’s import duties align with global trade rules, and the government should communicate this to the US. However, negotiating a free trade agreement with the US poses challenges, including pressure to open government procurement, reduce agricultural subsidies, and alter data flow restrictions, which India continues to resist.

India and the EU are aiming to finalize a free trade agreement by the end of the year. Commerce Minister Piyush Goyal and EU Trade Commissioner Maros Sefcovic held talks in Mumbai to push for a balanced and mutually beneficial deal. The next round of negotiations is set for March 10-14 in Brussels.

Arvind Panagariya, Chairman of the 16th Finance Commission, suggests India leverage the US threat of reciprocal tariffs to secure mutual tariff reductions, fostering a win-win situation. He warns of the negative consequences of a tariff war. The US-India bilateral trade reached USD 190.08 billion in 2023, with a significant trade surplus for India.

India and the EU are accelerating efforts to finalize a free trade agreement by the end of the year. Key areas include duty cuts on specific goods and data security for India’s IT sector. The agreement aims to enhance bilateral trade and investment, amidst concerns over potential US tariffs.

Commerce Minister Piyush Goyal plans to visit Washington to meet newly appointed USTR Jamieson Greer. This visit aims to initiate talks on a Bilateral Trade Agreement between India and the US, targeting negotiation completion by autumn 2025. Both nations aim to double two-way trade to $500 billion by 2030, focusing on increasing market access and […]