EU-India to resume talks on Free Trade Agreement
The Government of India and the European Union are expected to start a ‘High Level Dialogue of Trade and Investment’ during the virtual EU-India summit. However, the EU has also expressed its concerns towards the protectionist policies by the Indian government such as Make in India, ‘Atmanirbhar India’ etc.
Background of the EU-India Free Trade Agreement
The EU-India FTA negotiations broke down in 2013 because of differences over import duties on alcohol, data security etc. Then in 2016, India also terminated the Bilateral Investment Treaties with many countries including some European countries. The reason was that India wanted to promote its Model Indian Bilateral Investment Treaty with the clause of first exhausting all the litigation options in India before approaching any international forum. India and European Union also tried to ink a Broad-Based Trade and Investment Agreement (BITA) but that also failed to materialize.
Month: Current Affairs - July, 2020