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India expresses desire to resume India- EU trade pact talks

Press Trust of India  |  New Delhi 

has expressed its keenness to soon resume the long stalled negotiations for a agreement with European Union (EU), the commerce department said today.

"In a meeting of the Chief Negotiators held today in New Delhi, expressed desire to resume the agreement, India- BTIA, as soon as possible," the department said in a tweet.

The negotiations for the pact, officially dubbed as Bilateral Trade and Investment Agreement (BTIA), have been held up since May 2013 as both the sides are yet to bridge substantial gaps on crucial issues.

Launched in June 2007, the negotiations for the proposed BTIA have witnessed many hurdles with both sides having major differences on key issues like intellectual property rights, duty cut in automobile and spirits, and liberal visa regime.

Two-way trade between and the dipped to USD 88.4 billion in 2015-16 from USD 98.5 billion in the previous fiscal.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 14 2017. 19:02 IST