India, EU to hold FTA talks amid Trump tariff threats

European Commissioner for Trade and Economic Security Maros SefCovic (L) with Commerce Minister Piyush Goyal. PIC/X@MarosSefcovic

India and the 27-nation European Union (EU) bloc will start the tenth round of negotiations for a proposed free trade agreement from Monday in Brussels amid Trump tariff threats, according to an official.

The talks are expected to focus on resolving remaining issues so that the agreement can be finalised by the end of this year. "The two sides are scheduled to hold the tenth round of negotiations for the FTA from March 10-14 in Brussels," the official said. During the recent visit of EU Commissioner for Trade and Economic Security Maros Sefcovic, the two sides have discussed ways to accelerate efforts towards a balanced and mutually beneficial trade pact.

In June 2022, India and the 27-nation EU bloc resumed the negotiations after a gap of over eight years. According to the think tank Global Trade Research Initiative, key sticking points include agricultural tariffs, automobile tariffs, and regulatory barriers affecting labour-intensive goods. India exported $76 billion in goods and $30 billion in services to the EU, while the EU exported $61.5 billion in goods and $23 billion in services to India.

Italy-India trade relations

Italian Agriculture Minister Francesco Lollobrigida has called for the consolidation of reciprocal trade relations with India, highlighting the very strong relationship between the two governments. His remarks came against the backdrop of the two-day ‘Vinitaly' trade promotion fair India Roadshow.

The minister said it is a platform where "the best Italian wine companies and others represent themselves, meet, discuss" and it allows "deepening of the topics related to the development of this industry from every point of view".

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