• About Us
  • Privacy Policy
  • Advertise with us
  • Disclaimer
  • Support Us
  • Career
  • Login
The Aligarian
No Result
View All Result
  • AMU Updates
  • AMUSU
  • Campus Connect
  • Featured
  • Literature
  • News
  • Reality Check
  • Student’s Corner
  • AMU Updates
  • AMUSU
  • Campus Connect
  • Featured
  • Literature
  • News
  • Reality Check
  • Student’s Corner
No Result
View All Result
The Aligarian
No Result
View All Result
Home The Second Angle

The EU-India FTA Trade Relations, A Bilateral Trade Welfare – The Second Angle

The Aligarian Desk by The Aligarian Desk
11 June 2021
in The Second Angle
Reading Time: 4 mins read
0
EU-India Relations
Share on FacebookShare on Twitter
Advertisements


The European Union has been a significant trade partner for India and the relations between the two countries are currently defined by the EU-India Cooperation Agreement(1994).

But even after 16 rounds of discussion for over six-year from 2007-2013, no common grounds were set for free trade between the countries.

In a summit that occurred in May, the two sides agreed to resume the stalled FTA talk on trade, geographical indications (GIs), and investment. 

This new round will also include talks on policies related to public procurement of goods and services, a roadmap to address issues of sustainable development, and regulations on intellectual property rights(IPRs).

Advertisements
15th EU-India Summit: Promising an opportunity for India in the post-COVID world
OpIndia

Agriculture and labor rights also make up an important part of the negotiations.

India risks being abandoned behind amidst a collapsing international trade architecture, soaring protectionism, and a new emphasis on bilateral Free Trade Agreements.

What is FTA?

Free Trade Agreement or Treaty refers to an agreement concerning the international laws to form a free-trade area between the participating nations in terms of imports and exports with very little or no government quotas or tariffs. 

Australia expresses hope of securing FTA with India
The Dollar Business

Free Trade between countries is essentially important to reduce prices for consumers, to increase exports, to increase efficiency, to provide a greater choice of goods, and to enhance the economic backbone of a country. 

Impacts of the trade deal

Even though India is known to be an agricultural and dairy-based country, yet the demand with respect to productivity is significantly higher in India.

Advertisements

The milk industry in the EU provides livelihood to more than 7 crore people, so it is a sensitive topic in the trade.

Dairy sector handled the lockdown well - The Hindu BusinessLine
Business Line

India has a very large consumer base, with its surplus dairy products EU has an export interest and would include it in FTA thus most likely it would reduce custom duty on various dairy products.

Before Brexit, the EU was interested in exporting scotch whiskey at lower tariffs but at present, it is interested in exporting a wide variety of wines and spirits.

The liquor consumption in India is rising day by day and thus the EU would be eyeing the fast-growing Indian liquor market for its alcoholic beverages and would likely try to reduce the customs duty.

Your duty-free liquor allowance could be cut by half! | Condé Nast Traveller India | Trends
cntraveller

But this would not be possible soon as Indian states derive huge revenue from liquor sales so tax reduction is not an option. 

Advertisements

Other benefits

  • The EU can provide a huge market for the manufacturing sector of India.
  • The IT sectors of the EU can utilize the English-speaking population of India.
  • Indian industries can fill the space left by British companies post-Brexit, thus strengthening their roots in the international market.

Although there are significant differences between the two parties in terms of IPRs, custom duties, and tax reduction on liquors, an FTA is a necessity for the growth of both parties in terms of international business.

The European Union is India’s largest trading partner along with being its main source of technology.

Unpacking the India-EU economic relationship | ORF
ORF

Enhanced business cooperation with the EU can diversify strategic value and reduce economic dependency on other nations, especially China.

With the aid of the EU in the technology sector, India can emerge as a digital nation.

 

Advertisements

Also Read :



Source link

Previous Post

Why Don’t I Know What I Want To Become? –

Next Post

5 Great Online Work From Home Jobs You Can Take On

The Aligarian Desk

The Aligarian Desk

Connecting People Who Care…With Causes That Matter!

Related Posts

Inter-state Differences Are A Big Reason For The Unsuccessful Bid Of Regional Parties To Expand — The Second Angle
The Second Angle

Inter-state Differences Are A Big Reason For The Unsuccessful Bid Of Regional Parties To Expand — The Second Angle

by The Aligarian Desk
13 July 2022
Devendra Fadnavis and Eknath Shinde
The Second Angle

Devendra Fadnavis And Eknath Shinde Have Similar Hostilities With NCP And Congress, But Different Political Aims — The Second Angle

by The Aligarian Desk
29 June 2022
Presidential Polls- BJP's choice can target the Unity of the Opposition
The Second Angle

BJP’s Choice Can Target The Unity Of The Opposition — The Second Angle

by The Aligarian Desk
29 June 2022
The Need For Diverse Young Leaders Than Family Dynasties In Politics — The Second Angle
The Second Angle

The Need For Diverse Young Leaders Than Family Dynasties In Politics — The Second Angle

by The Aligarian Desk
17 June 2022
World’s Oldest Profession recognized by the Supreme court
The Second Angle

World’s Oldest Profession Recognized By The Supreme Court — The Second Angle

by The Aligarian Desk
30 May 2022
Next Post
5-Best-Online-Work-From-Home-Jobs-You-Can-Take-Amid-The-Pandemic-

5 Great Online Work From Home Jobs You Can Take On

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Aligarh News

Prof. Syed Javaid Zaidi become the first AMU alumni to occupy the position of UNESCO Chair in Water Desalination Technology established in Qatar

Prof. Syed Javaid Zaidi become the first AMU alumni to occupy the position of UNESCO Chair in Water Desalination Technology established in Qatar

5 March 2022
Time Capsule buried in AMU

Time Capsule buried in AMU

27 January 2021
AMU

AMU’s Reaction On The Property Tax Dues : Varsity’s Account Seized

5 January 2021
AMU Hijab Controversy: My Comments Being Used To Defame The University, Says Accused Student

AMU ranked fourth best Indian University

29 December 2020
RSS man praises doctors at AMU for saving his life

JNMCH: Ad-hoc RDA President, Treasurer appointed

1 December 2020
Over 40% Applicants Absent At The AMU Entrance Exam; COVID-19 Continues To Hamper The Education Sector

Over 40% Applicants Absent At The AMU Entrance Exam; COVID-19 Continues To Hamper The Education Sector

27 November 2020
Smart City establishments now advancing further in Aligarh ; E-Challan from December for jumping traffic lights.

Smart City establishments now advancing further in Aligarh ; E-Challan from December for jumping traffic lights.

26 November 2020
AMU ranks third best university in India

AMU ranks third best university in India

3 August 2020

© 2022. The Aligarian. Powered by SquareBase

No Result
View All Result
  • AMU Updates
  • AMUSU
  • Campus Connect
  • Featured
  • Literature
  • News
  • Reality Check
  • Student’s Corner

© 2022. The Aligarian. Powered by SquareBase

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In