NEW DELHI, Dec 20: India has highlighted challenges faced by its domestic industry in accessing European Union (EU) markets and has called for these issues to be addressed, according to an official statement released on Friday.
This matter, along with the ongoing negotiations for a proposed free trade agreement (FTA) between India and the EU, was discussed during a virtual meeting between Commerce and Industry Minister Piyush Goyal and European Commissioner for Trade and Economic Security Maros Sefcovic last night.
Minister Goyal emphasized that non-tariff barriers are obstructing trade and underscored the necessity of addressing long-standing issues as a means to build confidence, as stated by the commerce ministry.
Both parties concurred on the importance of pursuing a balanced, fair, ambitious, and mutually advantageous FTA, the ministry added.
Following nine rounds of detailed negotiations, the discussions surrounding the FTA require strategic political direction to finalize a commercially significant and mutually beneficial agreement, ensuring that both sides’ sensitivities are taken into account, the ministry noted. (PTI)
