By Chair Delphine Pronk
Copyright indiatimes
ReutersAn interior of a BMW i7 electric car is seen during a press conference announcing a joint venture between Tata Technologies and BMW Group, in Mumbai, India
Union Minister of Commerce and Industry, Piyush Goyal on Friday expressed his confidence in the proposed FTA being beneficial for the auto industry.Speaking at the Automotive Component Manufacturers Association of India (ACMA), Goyal said, “I am confident that the auto industry will find arrangements we will come up with very attractive, exciting and holding good for each of your businesses to grow, collaborate with partners from Europe and other parts of the world, encourage innovation and research and develop in India…”Several ministers from India, including Goyal, have been engaged in intense negotiations with EU Trade Commissioner Maros Sefcovic to work out a pact of shared prosperity of the EU and India.As Foreign Secretary Vikram Misri met with the European Union Political and Security Committee (PSC) delegation, led by Chair Delphine Pronk on Friday, India-EU free trade agreement is expected to be implemented later this year.EU PSC Chair Pronk, in his first visit to Asia, spoke with Misri on deepening security and defence cooperation under the India-EU Strategic Partnership.Live EventsIn a post on X, MEA Spokesperson Randhir Jaiswal said, “Foreign Secretary Vikram Misri met today with the EU Political and Security Committee (PSC) delegation, led by Chair Ms. Delphine Pronk, which paid its first-ever visit to Asia. Discussions focused on deepening security and defence cooperation under the India-EU Strategic Partnership and exchange of views on latest regional and international developments.”Goyal met Sefcovic and Christophe Hansen, EU Commissioner for Agriculture and Food on Friday to discuss early conclusion of ongoing Free Trade Agreement (FTA) negotiations between the two sides.”Delighted to host my friend Maros Sefvoic, EU Commissioner for Trade and Economic Security, and Christophe Hansen, Commissioner for Agriculture and Food, along with the EU delegation for dinner. As the India-EU FTA negotiations continue, we reiterated our shared commitment towards its early conclusion. A balanced and mutually beneficial FTA will unlock new opportunities for people & businesses on both sides,” Goyal said in a post on X, marking the 13th round of India-EU FTA negotiations.During the recent meetings, India has emphasised that meaningful progress in trade negotiations requires equal focus on non-tariff barriers (NTBs) alongside tariff discussions. It also stated that regulatory frameworks must be inclusive, proportionate, and avoid restricting trade.European Trade Chief Sefcovic and Christophe Hansen are on a visit to India from September 12-13 to lead the negotiations on the Free-Trade Agreement (FTA) between India and the European Union.On September 9, the EU Embassy in India posted, “On 12-13 Sept, EU Trade Commissioner Maros Sefcovic and Agriculture & Food Commissioner Christophe Hansen will be in town to meet Minister Piyush Goyal, take stock & power up India-EU business ties and connect with key stakeholders.”The India-European Union Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) is expected to be implemented later this year, once all parties complete their ratification processes.Meanwhile, India is in talks for several other agreements, including India-Australia Comprehensive Economic Cooperation Agreement (CECA), India-Sri Lanka Economic and Technology Cooperation Agreement, India-Peru FTA, India-Chile CEPA, India-New Zealand FTA, and a bilateral trade agreement with the United States. Add as a Reliable and Trusted News Source Add Now!
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