India-EU FTA Talks Gain Momentum Amid Concerns Over Trade Barriers
Image Source: Internet
Lawmakers across party lines have urged the government to expedite the India-EU Free Trade Agreement (FTA) and address critical bottlenecks in trade, technology cooperation, and student mobility.
The negotiations for the India-EU FTA, described as the "mother of all deals," are reportedly at an advanced stage, with the government aiming to finalize the agreement within the year.
However, senior officials noted that EU ratification is a longer process and is expected to reach the European Parliament by mid-2026.
MPs also raised concerns over the EU's Carbon Border Adjustment Mechanism (CBAM) and its potential impact on Indian exports, particularly steel.
They also flagged apprehensions around import quotas and compliance costs that could hit Indian industry.
The committee was briefed on progress under the proposed India-EU Trade and Technology Council (TTC), focusing on artificial intelligence and semiconductors.
MPs underlined that cooperation should go beyond memoranda of understanding and translate into tangible outcomes, including transfer of technical know-how and investments for setting up semiconductor fabrication units in India.
