India and the European Union will hold the seventh round of negotiations for a free trade pact in mid-February, covering services and investments, Report informs, citing Hindustan Times.
Progress has been made in 18 out of 23 policy areas, and the two sides have resolved differences to prepare for the next round of talks. The EU wants India to remove trade barriers for smaller firms and open up services and public procurement markets.
However, India will protect sensitive sectors such as MSMEs, agriculture, and dairy. The comprehensive deal with the EU will take more time compared to recent trade pacts with Australia and the UAE.
The EU and India had first launched negotiations for a free trade agreement in 2007 before the talks were suspended in 2013 due to a gap in ambition. The trade negotiation was relaunched in 2022, along with separate negotiations for an investment protection agreement and an agreement on geographical indicators.