Indian Economy News

India and EU comprehensive free trade deal to be finalised by 2024

India and the European Union (EU) plan to complete a full free trade agreement by 2024, according to EU Ambassador to India Mr. Ugo Astuto. He said that the timeline has been established in consideration of both India's and the EU's upcoming general elections in 2024. The trade agreement is likely to be completed before the end of the year elections. After the World Trade Organization's (WTO) 12th ministerial conference, negotiations are likely to begin in June.

A delegation of officials led by Secretary, Department of Commerce, Mr. BVR Subramanyan was in Brussels earlier this month to lay the groundwork for the trade pact. Parliamentarians from the European Union also paid a visit to India in order to further trade negotiations. India and the EU agreed to establish a ‘Trade and Technology Council’, a strategic mechanism to tackle the challenges at the nexus of trade, trusted technology and security, that will deepen their strategic relationship.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.