Latest news with #IPRs
The Print
3 days ago
- Business
- The Print
India-EU free trade agreement could be concluded before year end: Goyal
'We have certain concerns about EU practices and regulations, likewise they have certain areas which they would like to discuss. All issues are on the table and we will negotiate a fair, balanced and equitable FTA,' Goyal told reporters here. He also said that India will raise its concerns over certain EU's regulations such as carbon tax and deforestation rules in the trade talks. Paris, Jun 1 (PTI) Commerce and Industry Minister Piyush Goyal on Sunday said that 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 end. He added that all of these issues will come up for discussions, so that both sides can come up with a robust agreement that will support market access and promote easier trade. The minister is here for a two-day visit. He will meet French leaders and business representatives to promote trade and investments between the two countries. When asked about the expected timeline for conclusion of talks on the FTA, he said: 'We never had a deadlines for a FTA, but looking at the rapid progress that we (India and the EU) are making, my sense is that we could do it faster than the year end'. He said that there are not too many issues where both sides have divergence of opinions. 'We have both complimentary economies. In most cases what is of offensive interest to India does not hurt the EU economy, likewise goods and services that Europe would like to provide to India only support our growth story,' he said. However, the minister added that in any trading relationship, there are certain sensitive issues on both sides, 'which is what we have to resolve amicably'. Further, he said that India does not shy away from discussing issues pertaining to gender and sustainability in such trade pacts. 'We will off course have a comprehensive FTA covering all subjects of mutual interest… Subject like gender, India bats on the front foot, and when it comes to subjects like sustainability, India is right at the fore front. India does not shy from any subject for discussions,' Goyal said. Goyal will hold a bilateral meeting with EU Commissioner for Trade and Economic Security Marcos Sefcovic on June 2 on the agreement. 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. Indian goods exports to the EU, such as ready-made garments, pharmaceuticals, steel, petroleum products, and electrical machinery, can become more competitive if the pact is concluded successfully. In June 2022, India and the 27-nation EU bloc resumed negotiations for a comprehensive free trade agreement, an investment protection agreement and a pact on geographical indications (GIs) after a gap of over eight years. The negotiations stalled in 2013 due to differences over the level of opening up of the markets. On February 28, Prime Minister Narendra Modi and the European Commission President agreed to seal a much-awaited free trade deal by the end of this year. The India-EU trade pact negotiations cover 23 policy areas or chapters, including Trade in Goods, Trade in Services, Investment, Sanitary and Phytosanitary Measures, Technical Barriers to Trade, Trade Remedies, Rules of Origin, Customs and Trade Facilitation, Competition, Trade Defence, Government Procurement, Dispute Settlement, Intellectual Property Rights, Geographical Indications, and Sustainable Development. India's bilateral trade in goods with the EU was USD 137.41 billion in 2023-24 (exports worth USD 75.92 billion and imports worth USD 61.48 billion), making it the largest trading partner for goods. The EU market accounts for about 17 per cent of India's total exports, while the EU's exports to India make up 9 per cent of its total overseas shipments. In addition, the bilateral trade in services, in 2023, between India and the EU was estimated at USD 51.45 billion. PTI RR HVA This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
News18
3 days ago
- Business
- News18
India-EU Free Trade Agreement Could Be Concluded Before Year End: Piyush Goyal
Piyush Goyal said that India will raise its concerns over certain EU's regulations such as carbon tax and deforestation rules in the trade talks. Commerce and Industry Minister Piyush Goyal on Sunday said that 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 end. He also said that India will raise its concerns over certain EU's regulations such as carbon tax and deforestation rules in the trade talks. 'We have certain concerns about EU practices and regulations, likewise they have certain areas which they would like to discuss. All issues are on the table and we will negotiate a fair, balanced and equitable FTA," Goyal told reporters here. He added that all of these issues will come up for discussions, so that both sides can come up with a robust agreement that will support market access and promote easier trade. The minister is here for a two-day visit. He will meet French leaders and business representatives to promote trade and investments between the two countries. When asked about the expected timeline for conclusion of talks on the FTA, he said: 'We never had a deadlines for a FTA, but looking at the rapid progress that we (India and the EU) are making, my sense is that we could do it faster than the year end". He said that there are not too many issues where both sides have divergence of opinions. 'We have both complimentary economies. In most cases what is of offensive interest to India does not hurt the EU economy, likewise goods and services that Europe would like to provide to India only support our growth story," he said. However, the minister added that in any trading relationship, there are certain sensitive issues on both sides, 'which is what we have to resolve amicably". 'We will off course have a comprehensive FTA covering all subjects of mutual interest… Subject like gender, India bats on the front foot, and when it comes to subjects like sustainability, India is right at the fore front. India does not shy from any subject for discussions," Goyal said. Goyal will hold a bilateral meeting with EU Commissioner for Trade and Economic Security Marcos Sefcovic on June 2 on the agreement. 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. Indian goods exports to the EU, such as ready-made garments, pharmaceuticals, steel, petroleum products, and electrical machinery, can become more competitive if the pact is concluded successfully. In June 2022, India and the 27-nation EU bloc resumed negotiations for a comprehensive free trade agreement, an investment protection agreement and a pact on geographical indications (GIs) after a gap of over eight years. The negotiations stalled in 2013 due to differences over the level of opening up of the markets. On February 28, Prime Minister Narendra Modi and the European Commission President agreed to seal a much-awaited free trade deal by the end of this year. The India-EU trade pact negotiations cover 23 policy areas or chapters, including Trade in Goods, Trade in Services, Investment, Sanitary and Phytosanitary Measures, Technical Barriers to Trade, Trade Remedies, Rules of Origin, Customs and Trade Facilitation, Competition, Trade Defence, Government Procurement, Dispute Settlement, Intellectual Property Rights, Geographical Indications, and Sustainable Development. India's bilateral trade in goods with the EU was USD 137.41 billion in 2023-24 (exports worth USD 75.92 billion and imports worth USD 61.48 billion), making it the largest trading partner for goods. The EU market accounts for about 17 per cent of India's total exports, while the EU's exports to India make up 9 per cent of its total overseas shipments. In addition, the bilateral trade in services, in 2023, between India and the EU was estimated at USD 51.45 billion. Watch India Pakistan Breaking News on CNN-News18. Get breaking news, in-depth analysis, and expert perspectives on everything from politics to crime and society. Stay informed with the latest India news only on News18. Download the News18 App to stay updated! Location : Paris, France First Published:
Time of India
3 days ago
- Business
- Time of India
India and EU Free Trade Agreement Expected by Year-End: Piyush Goyal, ET LegalWorld
Commerce and Industry Minister Piyush Goyal on Sunday said that 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 end. He also said that India will raise its concerns over certain EU's regulations such as carbon tax and deforestation rules in the trade talks. "We have certain concerns about EU practices and regulations, likewise they have certain areas which they would like to discuss. All issues are on the table and we will negotiate a fair, balanced and equitable FTA," Goyal told reporters here. Advt Advt He added that all of these issues will come up for discussions, so that both sides can come up with a robust agreement that will support market access and promote easier minister is here for a two-day visit. He will meet French leaders and business representatives to promote trade and investments between the two asked about the expected timeline for conclusion of talks on the FTA, he said: "We never had a deadlines for a FTA, but looking at the rapid progress that we (India and the EU) are making, my sense is that we could do it faster than the year end".He said that there are not too many issues where both sides have divergence of opinions."We have both complimentary economies. In most cases what is of offensive interest to India does not hurt the EU economy, likewise goods and services that Europe would like to provide to India only support our growth story," he the minister added that in any trading relationship, there are certain sensitive issues on both sides, "which is what we have to resolve amicably".Further, he said that India does not shy away from discussing issues pertaining to gender and sustainability in such trade pacts."We will off course have a comprehensive FTA covering all subjects of mutual interest... Subject like gender, India bats on the front foot, and when it comes to subjects like sustainability, India is right at the fore front. India does not shy from any subject for discussions," Goyal will hold a bilateral meeting with EU Commissioner for Trade and Economic Security Marcos Sefcovic on June 2 on the 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 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 goods exports to the EU, such as ready-made garments, pharmaceuticals, steel, petroleum products, and electrical machinery, can become more competitive if the pact is concluded June 2022, India and the 27-nation EU bloc resumed negotiations for a comprehensive free trade agreement, an investment protection agreement and a pact on geographical indications (GIs) after a gap of over eight negotiations stalled in 2013 due to differences over the level of opening up of the February 28, Prime Minister Narendra Modi and the European Commission President agreed to seal a much-awaited free trade deal by the end of this India-EU trade pact negotiations cover 23 policy areas or chapters, including Trade in Goods, Trade in Services, Investment, Sanitary and Phytosanitary Measures, Technical Barriers to Trade, Trade Remedies, Rules of Origin, Customs and Trade Facilitation, Competition, Trade Defence, Government Procurement, Dispute Settlement, Intellectual Property Rights, Geographical Indications, and Sustainable bilateral trade in goods with the EU was USD 137.41 billion in 2023-24 (exports worth USD 75.92 billion and imports worth USD 61.48 billion), making it the largest trading partner for EU market accounts for about 17 per cent of India's total exports, while the EU's exports to India make up 9 per cent of its total overseas addition, the bilateral trade in services, in 2023, between India and the EU was estimated at USD 51.45 billion. Join the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. Download ETLegalWorld App Get Realtime updates Save your favourite articles Scan to download App
&w=3840&q=100)
Business Standard
3 days ago
- Business
- Business Standard
India-EU free trade pact could be concluded before year end: Piyush Goyal
Commerce and Industry Minister Piyush Goyal on Sunday said that 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 end. He also said that India will raise its concerns over certain EU's regulations such as carbon tax and deforestation rules in the trade talks. "We have certain concerns about EU practices and regulations, likewise they have certain areas which they would like to discuss. All issues are on the table and we will negotiate a fair, balanced and equitable FTA," Goyal told reporters here. He added that all of these issues will come up for discussions, so that both sides can come up with a robust agreement that will support market access and promote easier trade. The minister is here for a two-day visit. He will meet French leaders and business representatives to promote trade and investments between the two countries. When asked about the expected timeline for conclusion of talks on the FTA, he said: "We never had a deadlines for a FTA, but looking at the rapid progress that we (India and the EU) are making, my sense is that we could do it faster than the year end". He said that there are not too many issues where both sides have divergence of opinions. "We have both complimentary economies. In most cases what is of offensive interest to India does not hurt the EU economy, likewise goods and services that Europe would like to provide to India only support our growth story," he said. However, the minister added that in any trading relationship, there are certain sensitive issues on both sides, "which is what we have to resolve amicably". Further, he said that India does not shy away from discussing issues pertaining to gender and sustainability in such trade pacts. "We will off course have a comprehensive FTA covering all subjects of mutual interest... Subject like gender, India bats on the front foot, and when it comes to subjects like sustainability, India is right at the fore front. India does not shy from any subject for discussions," Goyal said. Goyal will hold a bilateral meeting with EU Commissioner for Trade and Economic Security Marcos Sefcovic on June 2 on the agreement. 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. Indian goods exports to the EU, such as ready-made garments, pharmaceuticals, steel, petroleum products, and electrical machinery, can become more competitive if the pact is concluded successfully. In June 2022, India and the 27-nation EU bloc resumed negotiations for a comprehensive free trade agreement, an investment protection agreement and a pact on geographical indications (GIs) after a gap of over eight years. The negotiations stalled in 2013 due to differences over the level of opening up of the markets. On February 28, Prime Minister Narendra Modi and the European Commission President agreed to seal a much-awaited free trade deal by the end of this year. The India-EU trade pact negotiations cover 23 policy areas or chapters, including Trade in Goods, Trade in Services, Investment, Sanitary and Phytosanitary Measures, Technical Barriers to Trade, Trade Remedies, Rules of Origin, Customs and Trade Facilitation, Competition, Trade Defence, Government Procurement, Dispute Settlement, Intellectual Property Rights, Geographical Indications, and Sustainable Development. India's bilateral trade in goods with the EU was $137.41 billion in 2023-24 (exports worth $75.92 billion and imports worth $61.48 billion), making it the largest trading partner for goods. The EU market accounts for about 17 per cent of India's total exports, while the EU's exports to India make up 9 per cent of its total overseas shipments. In addition, the bilateral trade in services, in 2023, between India and the EU was estimated at $51.45 billion. Dispute settlement system Commerce and Industry Minister Piyush Goyal on Sunday said that finalising and restoring a dispute resolution mechanism of the World Trade Organisation (WTO) quickly is important to maintain the core philosophy of the Geneva-based multi-lateral body. He said that a mini-ministerial meeting of the WTO will be held on June 3 where trade ministers of all the major economies would discuss ways to strengthen the multilateral trading systems, WTO reforms, and work towards open and expansive international trade. "It is very important that we finalise and restore a dispute resolution mechanism quickly so that the principles of the WTO can be adjudicated upon and justice can be delivered," he told reporters here. Total Energies investment Commerce and Industry Minister Piyush Goyal on Sunday held a meeting with Total Energies CEO Patrick Pouyanne and discussed the company's investment plans for India. Goyal is here for a three-day visit. "Met Mr. Patrick Pouyanne, Chairman & CEO of @TotalEnergies. Discussed the company's investment plans for India and avenues for deeper collaboration in the renewable energy sector," Goyal said in a post on X. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
The Hindu
24-05-2025
- Business
- The Hindu
Piyush Goyal meets EU counterpart for second time in a month on FTA talks
Commerce and Industry Minister Piyush Goyal has met European Commissioner for Trade Maros Sefcovic in Brussels, their second meeting within a month, to discuss the proposed free trade agreement (FTA), currently under negotiation between the two regions. Mr. Goyal travelled to Brussels on May 23 from Washington, while India's chief negotiator L Satya Srinivas and his team are already at the EU headquarters for the FTA negotiations. Mr. Goyal held meetings with his EU counterpart earlier this month. "Delighted to welcome my friend and counterpart @PiyushGoyal. We continue to make progress. Let's maintain the momentum - with hard work, clear focus - and I look forward to our next meeting soon," Mr. Sefcovic said in a post on X. Delighted to welcome my friend and 🇮🇳 counterpart @PiyushGoyal. We continue to make progress. Let's maintain the momentum - with hard work, clear focus - and I look forward to our next meeting soon. — Maroš Šefčovič🇪🇺 (@MarosSefcovic) May 23, 2025 In response, Mr. Goyal, in a post on the social media platform, said, "We remain committed to the shared prosperity of India and the EU. Let us keep this pace going!". These deliberations assume significance as India and the 27-nation European Union are looking at concluding the talks for an early harvest trade agreement by July. The early harvest or an interim trade agreement could include issues like intellectual property rights (IPRs), government procurement, tariffs, and non-tariff barriers. Officials of both sides recently concluded the eleventh round of talks on May 16 here in the national capital. "We are looking for an early harvest. We are trying to do it as early as possible," an official has said recently. The two sides have agreed to conclude the agreement in two phases on account of the uncertain global trade environment, particularly due to the US tariff actions under President Donald Trump. India has followed the practice of negotiating trade pacts in two phases with Australia. The early harvest pact would lead to a full-fledged free trade agreement. 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. Indian goods exports to the EU, such as ready-made garments, pharmaceuticals, steel, petroleum products, and electrical machinery, can become more competitive if the pact is concluded successfully. In June 2022, India and the 27-nation EU bloc resumed negotiations for a comprehensive free trade agreement, an investment protection agreement and a pact on geographical indications (GIs) after a gap of over eight years. The negotiations stalled in 2013 due to differences over the level of opening up of the markets. On February 28, Prime Minister Narendra Modi and the European Commission President agreed to seal a much-awaited free trade deal by the end of this year. The India-EU trade pact negotiations cover 23 policy areas or chapters, including Trade in Goods, Trade in Services, Investment, Sanitary and Phytosanitary Measures, Technical Barriers to Trade, Trade Remedies, Rules of Origin, Customs and Trade Facilitation, Competition, Trade Defence, Government Procurement, Dispute Settlement, Intellectual Property Rights, Geographical Indications, and Sustainable Development. India's bilateral trade in goods with the EU was USD 137.41 billion in 2023-24 (exports worth USD 75.92 billion and imports worth USD 61.48 billion), making it the largest trading partner for goods. The EU market accounts for about 17 per cent of India's total exports, while the EU's exports to India make up 9 per cent of its total overseas shipments. In addition, the bilateral trade in services, in 2023, between India and the EU was estimated at USD 51.45 billion.
