India is accelerating efforts to conclude its trade agreement with the European Union, aiming to finish negotiations by next month even as exporters face pressure from steep US tariffs on steel and aluminium. With the timeline tightening, India has asked its legal teams involved in drafting the deal to avoid taking leave until the agreement is completed.
An EU delegation is expected to arrive on December 3, and recent virtual discussions between senior officials from both sides indicate that talks have entered their final phase. Out of 23 chapters in the proposed deal, 10 have been completed so far. However, issues such as rules of origin and market access in agriculture remain unsettled. Both sides have reached common ground on sanitary and phytosanitary standards that affect food-related trade.
Some sensitive areas, including a chapter on state-owned enterprises, have been dropped from the negotiations. On the EU’s upcoming carbon tax, India has proposed a rebalancing clause to ensure that restrictions placed on Indian goods can be matched with equal measures on European products.
Despite challenges, both partners remain committed to concluding the agreement, noting the significance of EU-India trade across goods and services.
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