EU Envoy emphasises substance, not speed, in India trade pact
India and the European Union aim to conclude their free trade agreement (FTA) negotiations by the end of the year. The EU's primary concern is investment protection, and they are working to find common ground after six successful rounds of talks.
European Union Ambassador to India, Hervin Delphin, emphasised that the focus on the free trade agreement lies more on its content than its specific timeline.
"On the EU side, we are more interested in the content than the date of the trade agreement. Should the negotiation accelerate, we would be responding to that call. We will be ready and do whatever it takes to be there. So for me the timeline of the agreement is not necessarily the defining factor, it is the quality of the negotiation which is the most defining element," he stated in an interview to CNBC-TV18.
India and the European Union aim to conclude their free trade agreement (FTA) negotiations by the end of the year.
The EU's primary concern is investment protection, and they are working to find common ground after six successful rounds of talks.
As of 2021, the bilateral trade in goods between India and the European Union amounted to 88 billion euros, marking a 35% increase compared to 2020.
Ambassador Delphin also expressed his belief that the India-Middle East-Europe Economic Corridor (IMEC) can bring economic stability to the region, independent of the Hamas war.
During the G20 summit in New Delhi on September 8, Prime Minister Narendra Modi introduced the IMEC, a initiative focused on collaboration, connectivity, and infrastructure. This pioneering project involves the participation of India, UAE, Saudi Arabia, EU, France, Italy, Germany, and the US.
(Edited by : Anand Singha)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
BJP is planning to ban RSS, says Shiv Sena (UBT) chief Uddhav Thackeray
May 18, 2024 8:01 PM
Punjab Lok Sabha elections: Complete list of Congress candidates
May 18, 2024 4:08 PM
Punjab Lok Sabha elections: Check full list of AAP candidates and constituencies
May 18, 2024 12:59 PM
PM Modi, Rahul Gandhi election rallies in Delhi today: Here are the routes to avoid
May 18, 2024 11:28 AM