Trade Agreement Negotiations Between India and the European Union in Final Stage, Says Commerce Secretary

On Wednesday, a government official stated that negotiations between the two sides on the proposed FTA are progressing very well and have reached the final stage. Commerce Secretary Rajesh Aggarwal stated that the two sides completed the 14th round of negotiations in Brussels last week. However, some Indian officials are holding off on completing negotiations on the Rules of Origin (ROO). He stated that we are in the final stages of negotiations. The final stage is the most difficult phase of negotiations because only the most difficult issues are decided at the end. Progress in this round has been very positive. The 'Rules of Origin' (ROO) provision prescribes the minimum processing that must take place in an FTA (Free Trade Agreement) country for the final manufactured product to be considered an originating good in that country.

Agarwal said, "This (ROO) is an area where a lot of work needs to be done. That's why we've left the team there. The plan was to have two weeks of continuous talks to see if we could make concrete progress."

He said that the dates for the next round of talks haven't been finalized yet, but discussions are ongoing, as there are some issues that both sides need to continue discussing.

Government sources on the India-US trade talks reported that talks are ongoing. The US ambassador-designate was in India for the talks. He met with all stakeholders and had good meetings. India's negotiating team is in the US. They are trying to see if we can find a solution that works best for both sides. The talks are ongoing. We are intensifying. We have seen an increase in Indian exports to the US, and this should continue."