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Informist, Saturday, Apr. 5, 2025

 

--Govt source: To sign trade pact with EU in tranches
--Govt source: In talks with Bahrain, Qatar for trade pact

 

NEW DELHI– In order to expedite negotiations on the proposed free trade agreement with the European Union, India may propose to sign the deal in tranches, a government official said. The two sides have set the target to conclude the trade deal by the end of this calendar year.

India and the EU had resumed the negotiations in June 2023 after a gap on nine years. The two sides had launched negotiations for a broad-based trade and investment pact in 2007, but the discussions were suspended in 2014 following differences over market access. 

 

Both the sides held negotiations in March in Brussels. In 2023-24 (Apr-Mar), India's total trade with the EU was $137.41 billion, which included exports worth $61.48 billion.

Concluding trade deals in tranches is in line with new strategy to expedite trade discussions. New Delhi also aims to close a trade agreement with Washington in multiple tranches.

India is engaged in trade pact negotiations with at least seven trading partners currently, the official said, adding that Bahrain and Qatar have also reached out to India for a trade deal.  End

 

 

US$1 = INR 85.23

 

Reported by Krity Ambey

Edited by Akul Nishant Akhoury

 

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