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BUSINESS EYE DECEMBER 01, 2023 | The Indian Eye 46

India concerned about interests of 1.4 billion

people as it negotiates free trade with EU

Negotiations on the trade agreement between India and the EU were officially launched in
January 2008, but in 2013 talks were put on hold and again resumed in June 2022

OUR BUREAU
New Delhi

ommerce and Industry minis-
ter Piyush Goyal on Wednes-
Cday said the proposed free
trade agreements with the European
Union and four-nation EFTA group
are doable, but they should keep in
mind India’s concerns as the level of
economic development is different.
Addressing CII’s India-Nordic Baltic
Business Conclave here, he said the
European Union (EU) and Europe-
an Free Trade Association (EFTA)
countries need to understand certain
“very important and significant” differ-
ences between the two set of regions.
“We are in active dialogue with
the EU and EFTA for a free trade
agreement... I do believe that both of
these are eminently doable and will
significantly help us expand our en-
gagement not only in trade in goods
services, but also in investments,
technology, tourism, innovation, and
clean energy,” Goyal said. Piyush Goyal Co-chairing the 3rd meeting of India-EU High Level Dialogue on Trade & Investment along with
The Nordic Region nations in-
clude Denmark, Norway, Sweden, European Commissioner for Trade, Valdis Dombrovskis (ANI File Photo)
Finland, and Iceland, Faroe Islands,
and Greenland, while Baltic states and significant differences between ment of smart cities is also a good of-the-art features that are being ne-
include Estonia, Latvia, and Lithua- the two set of regions engaging with investment for bilateral relations. gotiated between India and the EU,
nia. India and EFTA states -- Iceland, each other. “I think what we’ve seen is that adding, “For both sides, it’s unique
Liechtenstein, Norway, and Switzer- “Unless this is understood by the there is enormous momentum in in terms of comprehensiveness and
land -- are negotiating a Trade and member countries of the EU and the the EU-India relationship that has that is the reason why negotiations
Economic Partnership Agreement EFTA, it will be very difficult to look been over the last years. The fact are picking up in terms of intensity...”
(TEPA) with a view to boost eco- at really concluding a high quality but that India’s growth of 65 per cent “So, I am not worried about the
nomic ties between the two regions. fair, balanced, and equitable arrange- of its GDP is concentrated in urban timing; I am laser-focused on the
Negotiations on the agreement ment between them,” he added. centers, shows that as we grow and content and the quality of the negoti-
were officially launched in January Explaining further, the minister develop our relationship, investing ation,” he stressed.
2008. A total of 13 rounds of nego- said India has to look at 1.4 billion in the development of smart cities is The India-Europe partnership is
tiations were held until autumn 2013 population, their future, jobs, work also a good investment for bilateral very much focused on urban spaces.
before the talks were put on hold. opportunities, and needs for better relations. And this is also the reason The EU envoy added that the EU
After talks resumed in October 2016, quality of life. “We have a low per cap- why we are focusing on this sector...,” has been investing, over the years, 4
a number of rounds have taken place. ita income base of about USD 2,500 Delphin said. billion euros in the development of
Similarly, negotiations on the compared to your countries with small He said that the EU-India rela- metros and inclusive, smart, clean,
trade agreement between India and population and per capita income of tionship has been on an ascending green, and more sustainable urban
the EU were officially launched in USD 60,000-USD 70,000,” Goyal said. trajectory which is doubling down in environments.
January 2008, but in 2013 talks were Meanwhile, European Union terms of funding to empower Indian The EU Ambassador said that
put on hold and again resumed in (EU) Ambassador to India Herve smart cities to be able to grow and the ideal projection will be a project
June 2022. Delphin on Thursday emphasized become more sustainable. that makes a difference in people’s
Goyal said Nordic and Baltic na- that there has been “enormous mo- Further stating, that “substance ordinary lives that reduces “health
tions can act as India’s ambassadors mentum in the EU-India relation- matters more than timing” in urban hazards, reduces environmental haz-
in the EU and the EFTA to help them ship” over the last few years. He also spaces, the EU envoy said that this is ards and actually generates econom-
understand certain very important said that investing in the develop- one of the most comprehensive state- ic opportunities.”

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