Narendra Modi with European Commission chief Ursula von der Leyen in New Delhi

• India and the EU are optimistic about concluding a trade agreement by the end of 2023 after the 14th round of negotiations in Brussels.

• Bilateral trade was valued at €120 billion in 2014, but tariff and regulatory challenges persist, particularly concerning carbon regulations and sustainability.

• Another round of talks is set for November in New Delhi, with ongoing discussions in the interim.

• Sensitive areas such as services, agriculture, pharmaceuticals, and automobiles are being set aside for now, while the political mandate supports a trade agreement by 2025.

• India opposes the EU’s Carbon Border Adjustment Mechanism, which aims to price emissions in imports and is set to fully take effect on January 1.

• Commerce Minister Piyush Goyal has warned of potential retaliatory measures if Indian products are affected by the CBAM.

• The EU is encouraged to modify its approach on trade and sustainability for a mutually acceptable outcome.

• India’s Quality Control Orders present ongoing difficulties in negotiations.

• The process is characterized by a commitment to finalize discussions by December despite existing challenges.

• Concurrently, discussions on the India-Middle East-Europe Economic Corridor (IMEC) are ongoing, with strategic interests in investment and infrastructure development being highlighted.

Modi European Commission Talks is important topic for Civil service exam (WBCS).

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