“Excellent meeting with Minister Goyal @PiyushGoyal from India. Will formally launch Free Trade Agreement negotiations very soon,” according to a tweet by Dombrovskis.
Excellent meeting with Minister Goyal @PiyushGoyal from India. ✅Will formally launch 🇪🇺🇮🇳 Free Trade Agreement ne… https://t.co/3827oe0QA1
— Valdis Dombrovskis (@VDombrovskis)
India’s Commerce Secretary BVR Subrahmanyam in April had said that India and the 27-nation European Union (EU) will restart negotiations for their long-pending free trade agreement in June.
The proposed agreement, officially dubbed as Broad-based Trade and Investment Agreement (BTIA) between India and the EU has been stalled since May 2013 due to several issues.
BTIA is a proposed comprehensive free trade agreement being negotiated by the two sides.
India’s merchandise exports to EU member countries stood at about USD 65 billion in 2021-22, while imports aggregated to USD 51.4 billion.