Following a chief negotiators' meeting in New Delhi the previous day, India's Ministry for Trade stated on Tuesday 14 November that India is ready to resume its talks with the EU “as soon as possible” for a bilateral trade and investment agreement (BTIA).
This meeting follows up on the commitment taken by the leaders of the EU and India at their summit on 6 October (see EUROPE 11878) to find a way to relaunch the free trade talks that were started in 2007, but that have been on hold since May 2013 (following five rounds of negotiations).
A balance still needs to be found between the interests of the EU (which wants better access to the Indian market for EU automobiles, wines and spirts, and dairy products, increased opening of Indian public procurement and the protection of EU geographical indications) and the interests of India (which wants better European market access for Indian service providers, and a more relaxed visa regime to enable qualified Indian workers, especially IT specialists, to move freely within the EU).
Investment protection is also a key issue – and all the more so as India's decision of summer 2016 to terminate its bilateral investment agreements with European countries will not have an immediate effect on existing investments (which will continue to be protected for 10 to 15 years), but could have an effect on new investments. (Original version in French by Emmanuel Hagry)