India and France recently held a meeting to discuss the current state of the India-EU trade agreement. The discussions focused on the progress that has been made so far and the areas that require further negotiation.
The India-EU trade agreement has been in the works for several years now, with negotiations starting in 2007. The agreement is aimed at increasing trade between India and the EU by reducing tariffs and other trade barriers. It is expected to benefit both sides significantly, with India gaining access to a massive market, while the EU gains access to one of the fastest-growing economies in the world.
During the meeting, the two sides discussed various issues related to the agreement. These included the protection of intellectual property rights, the elimination of non-tariff barriers, and the reduction of tariffs on goods and services.
India also raised concerns about the proposed carbon border adjustment mechanism (CBAM) that the EU is planning to introduce. This mechanism is aimed at reducing carbon emissions by taxing imported goods based on their carbon footprint. India is concerned that this mechanism could have a negative impact on its exports to the EU.
The meeting between India and France is part of a broader effort to accelerate the negotiation process and finalize the agreement as soon as possible. Negotiators from both sides have been meeting regularly to iron out the details of the agreement, and there is optimism that it will be finalized soon.