India and the European Union agreed that issues related to steel, auto, carbon border adjustment mechanism and other regulations need more discussions due to higher sensitivities, the central government said in a statement on Wednesday.
"Both sides agreed that issues related to Steel, Auto, CBAM, and other EU regulations still require further discussion, as these issues have higher sensitivities," said the government. India recognises the importance of ensuring that the FTA remains balanced in addressing both tariff and non-tariff barriers and creating transparent and predictable regulatory frameworks that accelerate trade for both partners in the coming years, it added.
Commerce Minister Piyush Goyal held talks on the trade deal with the EU during his October 26-28 visit to Brussels, the statement said. Goyal's visit follows the conclusion of the 14th round of talks between the two sides from October 6-10.
Engagements between the two sides have increased as they have decided to conclude negotiations by December.
Commerce Secretary Rajesh Agrawal has also held talks with European Commission (EC) Director General for Trade (DG-Trade) Sabine Weyand in Brussels.
In June 2022, India and the EU bloc resumed negotiations for a comprehensive FTA, an investment protection agreement and a pact on geographical indications after a gap of over eight years. It was stalled in 2013 due to differences on the level of opening up markets.
India's bilateral trade in goods with the EU was USD 136.53 billion in 2024-25 (exports worth USD 75.85 billion and imports worth USD 60.68 billion), making it the largest trading partner for goods.
The EU market accounts for about 17 per cent of India's total exports, and the bloc's exports to India constitute 9 per cent of its total overseas shipments.
Besides demanding significant duty cuts in automobiles and medical devices, the EU wants tax reduction in other products like wine, spirits, meat, poultry, and a strong intellectual property regime.
Indian goods' exports to the EU, such as readymade garments, pharmaceuticals, steel, petroleum products, and electrical machinery, can become more competitive if the pact sails through.
The India-EU trade pact negotiations cover 23 policy areas or chapters, including trade in goods, services, investment, trade remedies, rules of origin, customs and trade facilitation, competition, government procurement, dispute settlement, intellectual property rights, geographical indications, and sustainable development.
"Both sides agreed that issues related to Steel, Auto, CBAM, and other EU regulations still require further discussion, as these issues have higher sensitivities," said the government. India recognises the importance of ensuring that the FTA remains balanced in addressing both tariff and non-tariff barriers and creating transparent and predictable regulatory frameworks that accelerate trade for both partners in the coming years, it added.
Commerce Minister Piyush Goyal held talks on the trade deal with the EU during his October 26-28 visit to Brussels, the statement said. Goyal's visit follows the conclusion of the 14th round of talks between the two sides from October 6-10.
Engagements between the two sides have increased as they have decided to conclude negotiations by December.
Commerce Secretary Rajesh Agrawal has also held talks with European Commission (EC) Director General for Trade (DG-Trade) Sabine Weyand in Brussels.
In June 2022, India and the EU bloc resumed negotiations for a comprehensive FTA, an investment protection agreement and a pact on geographical indications after a gap of over eight years. It was stalled in 2013 due to differences on the level of opening up markets.
India's bilateral trade in goods with the EU was USD 136.53 billion in 2024-25 (exports worth USD 75.85 billion and imports worth USD 60.68 billion), making it the largest trading partner for goods.
The EU market accounts for about 17 per cent of India's total exports, and the bloc's exports to India constitute 9 per cent of its total overseas shipments.
Besides demanding significant duty cuts in automobiles and medical devices, the EU wants tax reduction in other products like wine, spirits, meat, poultry, and a strong intellectual property regime.
Indian goods' exports to the EU, such as readymade garments, pharmaceuticals, steel, petroleum products, and electrical machinery, can become more competitive if the pact sails through.
The India-EU trade pact negotiations cover 23 policy areas or chapters, including trade in goods, services, investment, trade remedies, rules of origin, customs and trade facilitation, competition, government procurement, dispute settlement, intellectual property rights, geographical indications, and sustainable development.
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