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India and the European Union on Friday concluded talks in the national capital on a proposed free trade agreement, with New Delhi emphasising the importance of clarity and predictability in the implementation of EU's proposed carbon border adjustment mechanism (CBAM) and new steel regulation. "The week-long discussions were part of ongoing efforts to advance negotiations towards a comprehensive, balanced, and mutually beneficial trade agreement," the commerce ministry said in a statement.A senior team of negotiators from the EU visited New Delhi from 3-7 November for talks with their Indian counterparts on the proposed FTA. A two-day stocktake meeting, on 5-6 November in New Delhi, reviewed key pending issues in the FTA negotiations, the ministry said. It covered multiple chapters such as goods, services, investment, trade, sustainable development, rules of origin, and technical trade barriers. Both sides emphasised the importance of continued technical-level engagement in the coming weeks to bridge remaining gaps and work towards the early conclusion of the deal.India-EU bilateral trade in goods stood at $136.53 billion in FY25. As part of the negotiations, commerce secretary Rajesh Agrawal held detailed meetings with director general for trade European Commission Sabine Weyand to assess progress made across various chapters. Agrawal underscored the need for clarity and predictability in the implementation of emerging EU regulatory frameworks, including CBAM and the proposed new steel regulation. He also reaffirmed India's commitment to achieving an outcome that supports economic growth and development, while ensuring a fair and balanced distribution of benefits, according to the statement.Both sides expressed satisfaction with the substantive progress achieved in several areas and agreed to sustain the positive momentum. The talks contributed to reducing differences and achieving a shared understanding on many issues.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onIndia EU trade agreementcarbon tax implementationEU steel regulationsFree Trade Agreementtrade negotiations India EUPredictability in trade policiesCarbon Border Adjustment MechanismRajesh AgrawalSabine WeyandCommerce Ministry India (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onIndia EU trade agreementcarbon tax implementationEU steel regulationsFree Trade Agreementtrade negotiations India EUPredictability in trade policiesCarbon Border Adjustment MechanismRajesh AgrawalSabine WeyandCommerce Ministry India(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless Prime ExclusivesInvestment IdeasStock Report PlusePaperWealth Edition123View all Stories
