India and the EU will hold the next round of talks for a free trade agreement in September.
The eighth round of negotiations concluded in June, with discussions covering all 21 chapters of the proposed pact.
Progress was made in areas such as government procurement, digital trade, technical barriers to trade, goods market access, an official said.
“We plan to intensify the process with inter-sessional meetings in July and August, culminating in another round of talks by September end,” the official added.
This renewed push follows a formal resumption of negotiations in June 2022 after an eight-year hiatus.
The proposed agreement encompasses both a free trade pact and a separate investment protection agreement, along with a pact on Geographical Indications (GIs).
The previous round of talks, launched in 2007, got stalled in 2013 due to sticking points on key issues, including tariffs on automobiles and alcoholic beverages as well as the movement of skilled professionals.
An FTA with the EU will facilitate further expansion and diversification of its export basket across goods and services, while solidifying its position in global value chains.
India’s merchandise exports to the EU have witnessed a steady rise to $75.92 billion in 2023-24 from $74.83 billion the previous year.
Imports have also climbed to $59.38 billion in 2023-24 compared with $61 billion in 2022-23.