India, EU FTA deal possible before year end: Goyal

Negotiations for the proposed comprehensive free trade agreement (FTA) between India and the European Union (EU) are progressing at a rapid pace and the deal could be concluded before the year’s end, said Mr Piyush Goyal, Commerce and Industry Minister. He also said that India will raise its concerns over certain EU regulations such as carbon tax and deforestation rules in the trade talks. He said that there are not too many issues where both sides have divergence of opinions. There are discussions for an early harvest or an interim trade agreement between the two sides that could include issues like intellectual property rights (IPRs), government procurement, tariffs, and non-tariff barriers. Besides demanding significant duty cuts in automobiles and medical devices, the EU wants tax reduction in products like wines, spirits, meat, poultry and a strong intellectual property regime, as per a report.

Please visit our youtube channel https://www.youtube.com/@ikargos2719 for fortnightly logistics news analysis and more!