In services, FICCI feels that EU should give one common commitment in various service sectors for Indian service suppliers under the FTA. Currently, the EU service market is very heterogeneous in regulations and conditions for third countries' exporters of services.
Liberalization of a service market at European Commission level does not ensure an effective market access for Indian service providers in individual EU countries as they may be maintaining additional requirements for exceptions from the EU commitments, FICCI emphasised. Also, there is a need to have Social Security Agreement with EU that would ensure export of social security contributions made by Indian professionals while working in EU.
FICCI noted that India continues to have small share in EU's goods and services imports. In 2007, share of India in EU's total goods imports was only 1.9% and in services it was only 1.5%. The FTA could increase India's share in EU's trade provided meaningful market access is given by EU for Indian exporters of textiles, apparels, leather products, chemicals, architectural services, medical professionals, IT professionals, etc, FICCI pointed out.
Federation of Indian Chambers of Commerce and Industry
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