India and EU will undertake their 11th session of trade discussions, with the goal of completing the first phase soon.
• India and the EU will start the next round of talks on the proposed free trade agreement (FTA) from Monday.
• The agreement is being negotiated in two phases due to the uncertain global trade environment, especially due to U.S. tariff policies.
• The first phase will include issues where both sides have reached convergence, with the second phase expected to be completed by the end of this year.
• The negotiations cover 23 policy areas or chapters, including Trade in Goods, Services, Investment, Government Procurement, Intellectual Property Rights, and Sustainable Development.
• The EU demands duty cuts in automobiles and medical devices, tax reduction in products like wines, spirits, meat, poultry, and a strong intellectual property regime.
• India wants better market access and lower tariffs for exports such as pharmaceuticals, textiles, garments, steel, petroleum products, and electrical machinery.