New govt should speed up India-EU free trade negotiation The new Indian government should expedite negotiations on the Indo-European Union (IEU) free trade agreement (FTA), says German Ambassador to India Michael Steiner. I hope the negotiation will restart soon after the new government assumes office as the FTA is a win-win situation for all, Steiner said in New Delhi. The FTA covers a wide variety of areas such as insurance and automobiles to spirits and wines. However, the Indian automobiles industry has raised an alarm over the sector being included in the FTA, claiming it will kill investments and technology flow into the country, resulting in under-achievement of the governments automotive mission plan. Negotiations on the FTA, officially dubbed the Broad-based Trade and Investment Agreement (BTIA) between India and the 27-nation EU, were launched in June 2007 but have been facing hurdles with both sides having differences on crucial issues.
Posted on: Mon, 21 Apr 2014 06:13:41 +0000
Trending Topics
Recently Viewed Topics
© 2015