Both sides believe that a comprehensive and ambitious agreement, in line with WTO rules and principles, would open up new markets and expand opportunities for Indian and European companies. Talks between the EU and India broke down in 2013, after it became clear that it would be impossible to reach agreement on demands for tariff reductions and market access, as well as on the inclusion of social, environmental and human rights clauses. Talks resumed in 2018, resulting in the declaration of a strategic partnership between the EU and India. While this agreement contributed to the resumption of talks, it mainly reaffirmed the current relationship instead of addressing one of the issues that led to the initial cessation of discussions on the trade agreement. The trade agreements between India and the European Union are some of the many hot topics that should be familiar to candidates attempting the ICD exam. This article describes the details of one of these agreements, the BTIA (Broad-based Trade and Investment Agreement). These negotiations are in line with the commitment made by political leaders at the 7th India-EU Summit held in Helsinki on 13 October 2006 to launch negotiations on a large-scale trade and investment agreement, based on the report of the India-EU High Level Technical Group. · A disagreement on whether the protection of foreign investments will be part of the BTIA or will be governed by a stand-alone contract. Topics covered: bilateral, regional and global groups and agreements that involve India and/or affect India`s interests. The EU is firmly committed to negotiating a stronger intellectual property system and a chapter on sustainable development, with social and environmental clauses that India does not wish to include in the trade agreement. Background: The European Union (EU) has expressed interest in examining a bilateral investment protection agreement (BIPA) with India, which would be disconnected from the draft free trade agreement (FTA) if the ongoing negotiations are pending. The European Union and India have been negotiating a Free Trade Agreement (FTA) – bilateral trade and investment agreement (BTIA) since 2007. Despite the growth in trade between the EU and India, talks stopped in 2013 after 16 rounds and only resumed in 2018.
The separation of a separate investment protection agreement from the bilateral free trade agreement – formally called the Large-Scale Free Trade and Investment Agreement (BTIA), which is currently under negotiation, will make it possible to sign the investment protection pact even in the absence of progress under the BTIA. 4) In 2016, India denounced most bilateral investment agreements with EU Member States on the grounds that they were obsolete. · Better market access for automotive, wine, spirits and dairy products. · A strong political commitment to resolve mutual concerns by taking a balance and thus ensuring a win-win situation is needed. 5) the existence of non-tariff barriers to Indian agricultural products, in the form of overly strict sanitary and phytosanitary measures that allow the EU to block the entry of many Indian agricultural products. 1) India is currently trying to create its own car industry, which would not be able to compete with EU car competition. The sector has also attracted foreign direct investment from the EU. The UK is one of India`s main trading partners in the EU bloc.
Total trade amounted to €13.6 billion in 2018, or 17% of India`s total trade with the EU. In addition, trade between India and Britain grew by an average of 8.8% per year between 2002 and 2018. 2) Free access for the textile industry to European markets · India has terminated many bilateral investment agreements, including those with EU Member States. · India – The EU shared the common concern for China`s growing political and economic dominance. . . .