Home / Knowledge / News / Textiles / India-EU FTA talks to resume soon
India-EU FTA talks to resume soon
23
Nov '15
Talks on the proposed free trade agreement (FTA), between India and the EU that have been stalled for more than two years, will resume soon, Commerce and Industry Minister Nirmala Sitharaman has said.

The decision marks the end of acrimony over a ban imposed by the EU on certain generic drugs tested by Hyderabad-based contract research firm GVK Biosciences.

Sitharaman said chief negotiators of India and the EU will meet soon, according to an agency report. Last August, India had cancelled a meeting with the EU chief trade negotiator in protest against an import ban on 700 of GVK's generic drugs for alleged manipulation of clinical trials.

She said that India deferred the talks because EU's action was "unilateral" and was "not right". The Commerce Minister said the Government had written to the EU, and following their response, the two sides will meet again.

In May 2013, India and the EU bloc failed to bridge substantial gaps on crucial issues, including data security status for IT sector.

The proposed FTA has been under negotiations since 2007. Differences over the lack of access for Indian professionals to EU's labour market and high taxes imposed on liquor and car imports from Europe have foiled efforts to reach an accord that is expected to boost trade between India and the EU.

The free trade pact aimed at reducing or significantly eliminating tariffs on goods, facilitate trade in services boost investments between the two sides. The two-way commerce in goods between India and the EU stood at $98.5 billion in 2014-15.

Earlier this month on the eve of the Prime Minister's visit to Britain, Assocham said given the stalemate in the India-EU talks, New Delhi should press for a separate FTA with Britain. Assocham said the delay in the FTA with the EU was costing India dearly and given that India needs easier market access to major markets without delay, the country should go for an FTA with Britain. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

'Sportswear is much more mainstream than earlier'

Fashion | On 20th Jul 2018

'Sportswear is much more mainstream than earlier'

The business of sportswear has evolved at a fast pace over the years. ...

Courtesy: YKK

Textiles | On 20th Jul 2018

Japanese firm YKK explores opening office in Uzbekistan

Japanese company YKK recently discussed with the Uztuqimachiliksanoat ...

HFPA alerts member firms on latest US tariff announcement

Textiles | On 20th Jul 2018

HFPA alerts member firms on latest US tariff announcement

The US Home Fashion Products Association (HFPA) has alerted its...

Interviews View All

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Urmil Arya

Sushila International, a well established textile organisation established ...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search