India and the European Union will hold the 14th round of free trade agreement (FTA) talks in Brussels from October 6 to 10, officials from the Commerce Ministry said.Both sides want to finalise a deal that is fair and beneficial. Commerce Minister Piyush Goyal said that even if all issues are not settled, the agreement will still be “a very good one.”
The last round of talks was held in India from September 8 to 12. During that time, EU leaders, including Vice President Maros Sefcovic and Agriculture Commissioner Christophe Hansen, met with Goyal to review progress.
One major EU demand is lower import duties in India’s auto sector. At present, India charges more than 100% duty on vehicles. India gave some concessions to UK auto firms in a trade deal signed in May, and the EU now expects a similar move.
The EU says the FTA will not only boost trade but also bring large investments and create thousands of jobs in India.
With the next round of talks in Brussels, both sides are working hard to close gaps and move closer to a long-awaited agreement.