Recently, Indian Foreign Minister Subramanian Jayashankar met German Foreign Minister Johan Wadeful. He told Germany that India wants to strengthen its trade relations with the European Union (EU). For this, India will have to negotiate quickly on the Free Trade Agreement (FTA) with Europe and the support of Germany is required in this direction.
German Foreign Minister Wadeful is currently on a two -day visit to India and was in Bengaluru on Tuesday. His visit is part of efforts to increase trade between India and Europe. External Affairs Minister Jayashankar said that India needs Germany's trust and cooperation to create good relations with the European Union.
The challenges of the agreement between the European Union and India
There are several issues in trade negotiations between India and the European Union, which is delaying the contract. The European Union wants India to reduce import tax on its car and dairy products. They are also demanding strict environmental and labor rules on Indian products.
At the same time, India is trying to protect its local farmers and industries. With this, India does not want to accept strict environmental rules that can prevent its economic progress. India also wants that in the case of any dispute, legal control remains in its hands.
Status of Trade Minister's statement and negotiation
According to media reports, India's trade minister Piyush Goyal said India and European union officials were negotiating in Brussels. About $ 190 billion is traded annually between India and the European Union. Both parties agree that they will try to complete the free trade agreement by the end of this year.
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