fta: FTA negotiations with EU will focus on goods and investments

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India and the European Union are expected to discuss issues related to investment and trade in goods during the third round of free trade agreement (FTA) negotiations, which will start in Delhi on November 28.

“EU negotiators are coming here for the talks. Negotiations on goods and investments are on the agenda,” said an official, who did not wish to be identified.

The two sides restarted FTA negotiations after a nine-year hiatus and began separate negotiations for an investment protection agreement and a geographical indications agreement in June.

The EU has proposed an anti-fraud clause in the goods chapter that deals with preventing, detecting and tackling breaches or circumventions of customs law related to preferential treatment, people familiar with the matter said. topic.

The first round of negotiations, held in June, focused on EU proposals for 18 chapters. The second round took place in October in Brussels.

Discussions took place on chapters covering issues such as digital trade, government procurement, anti-competitive behavior, merger control and subsidies, public enterprises, dispute resolution, good regulatory practices, energy and raw materials.

The EU’s share of foreign investment flows to India has risen from 8% over the past decade to 18%, making the bloc the largest source of foreign direct investment (FDI) in the country. India. Between April 2000 and September 2020, EU FDI inflows to India totaled $86.82 billion.

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