Despite several rounds of negotiations, the agreement is still far from being concluded. India and the EU have not agreed on key issues, including tariff reductions, intellectual property protection and trade liberalization of services. The recent decision on Brexit and the termination of investment contracts by India changed the terms of the last round of negotiations in 2013. It is therefore possible to resume negotiations in the near future. The European Union is aiming for an ambitious and comprehensive bilateral trade and investment agreement (BTIA) with India and is not in favour of an early stage covering fewer territories, EU officials said on Tuesday, on the eve of the 15th summit between India and the EU. Trade agreements between India and the European Union are just some of the many hot topics with which candidates trying to verify IAS standards must be well-tested. This article will provide details on one of these agreements – the BTIA (Broad-based Trade and Investment Agreement). “The EU is certainly India`s largest trading partner, so without the agreement we are developing trade. The WTO remains the dispute settlement mechanism. We both believe in a global system with a level playing field and we hope to continue to talk about the free trade agreement,” Astuto said at an event on the sidelines of the De Raisina dialogue. These negotiations are in line with the commitment made by the Heads of State and Government at the 7th India-EU Summit in Helsinki on 13 October 2006 to negotiate a large-scale trade and investment agreement, based on the report of the India-EU High-Level Technical Group.
However, several EU countries are prevented from investing in India without an investment agreement, and officials now suspect that this will be set in motion when Prime Minister Modi attends the India-EU summit in Brussels on 13 March, which will take place after a two-year hiatus. Both sides believe that a comprehensive and ambitious agreement, in line with WTO rules and principles, would open up new markets and expand opportunities for Indian and European companies.