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Former Commerce Secretary Rajeev Kher in an interview with ET said FTA negotiations prioritize preferential agreements over multilateralism due to the lack of commonality in issues among countries and the evolving role of non-trade issues. Kher added that friendshoring has emerged as a response to supply chain uncertainties caused by geopolitical tensions. ....
The cabinet approved an initial pact between India and the European Union to boost cooperation for semiconductor research. The Memorandum of Understanding was signed on November 21, 2023, between India and the European Commission. The pact aims to boost the resilience of the semiconductor value chain in India and the EU. It covers cooperation in research, innovation, talent development, partnerships, and market information exchange. India s Ministry of Electronics and Information Technology is actively fostering a conducive environment for electronics manufacturing. ....
As per sources, while the EU is strongly interested in sealing the trade deal but its sustainability regime is hindering trade talks with many countries. ....
India EU Trade: A free-trade agreement with India — one of the world’s fastest growing economies — would unlock mutual access for goods and investment in key areas such as digital markets, critical raw materials and energy. ....
EU commissioner for trade Valdis Dombrovskis also indicated the two sides may resolve their outstanding dispute. The two are involved in a dispute over tariffs imposed by New Delhi on information and communication technology goods outside the World Trade Organization. ....