At present, India`s trade regime and regulatory environment remain relatively restrictive. Technical barriers to trade (TBT), sanitary and phytosanitary (SPS) measures, derogations from international standards and agreements, and discrimination based on legislative or administrative measures by India affect a wide range of sectors, including goods, services, investment and government procurement. Piyush Goyal said India was open to a preferential trade deal with the ultimate goal of a free trade agreement with the UK. Further information on the EU-India Strategic Partnership, including in the area of trade and investment, is available in the new EU Strategy for India, adopted on 20 November 2018, as well as in the relevant Council conclusions. India is open to the idea of a preferential trade agreement with the EU in order to achieve faster results before negotiating a more ambitious free trade agreement (FTA), negotiated since 2007. “The EU has not had a trade commissioner for some time. There is now a new Commissioner for Trade. He has written to our honourable Minister of Trade and Industry (Piyush Goyal) and discussions are underway to have a meeting of the high-level mechanism soon,” he said. The country has also increased trade barriers to block cheap imports from China and replace them with locally made products for domestic consumption and export. However, following the videoconference, the timing of a free trade agreement that had been discussed for several years was not mentioned. NEW DELHI (Reuters) – India has begun trade talks with the European Union (EU) and is open to dialogue with the United Kingdom on a free trade deal, the trade minister said on Saturday, as Asia`s third-largest economy seeks new markets for its products. The Minister of Commerce will hold in-depth discussions with the European Commissioner for Trade to accelerate the Free Trade Agreement between India and the EU. “India and the EU have been in talks for some time on this large-scale trade and investment agreement,” he said.
“But since 2013, these negotiations haven`t really taken place. The two sides “welcomed the conclusion of various agreements between the two countries, including those between their financial market supervisors, stock exchanges and innovation agencies,” he said. “We are talking to the EU and I am in dialogue with the European Commissioner for Trade. I am looking for an early harvest market. Open to discussions on a wide range of topics. It`s up to Britain and the EU to take the gaug of the feud first,” Goyal said. One of the EU`s main objectives in its trade relations with India is to work towards a strong, transparent, open, non-discriminatory and predictable regulatory and trading environment for European companies trading with or investing in India, including the protection of their investments and intellectual property. The aim is to help unlock the untapped potential of mutual trade between the EU and India. . . .