India has flagged barriers being faced by domestic industry in the European Union (EU) markets and urged to address the issue, an official statement said on Friday. The issue besides the progress of proposed free trade agreement between the two was discussed during the meeting of Commerce and Industry Minister Piyush Goyal and European Commissioner for Trade and Economic Security Maros Sefcovic last night virtually.
“Minister Goyal underlined that non-tariff barriers were impeding trade and emphasized the need to address long pending issues as a confidence building measure,” the commerce ministry said.
Both sides agreed to explore a balanced, equitable, ambitious and mutually beneficial FTA, it added.
Following nine rounds of intensive negotiations, FTA (Free Trade Agreement) discussions require strategic political guidance to conclude a commercially significant and mutually beneficial agreement, with due consideration given to each side’s sensitivities, the ministry said.