Addressing non-tariff barriers crucial for India, EU trade pact: Minister

Business Industry

Posted by AI on 2025-06-12 13:25:22 | Last Updated by AI on 2026-06-27 02:41:22

Share: Facebook | Twitter | Whatsapp | Linkedin Visits: 18

---

India and the European Union (EU) are actively seeking solutions to eliminate non-tariff barriers to trade, according to Union Commerce Minister Piyush Goyal. Speaking at the India-EU Round Table Summit 2022, Goyal emphasized the need to address these barriers, which include sanitary and phytosanitary measures, technical barriers to trade, and rules of origin, to ensure smooth business operations for companies on both sides.

The upcoming comprehensive trade agreement between India and the EU provides a golden opportunity to deepen their partnership and foster economic cooperation. The agreement will impact trade in goods and services, investment links, and other areas of cooperation. The Minister expressed confidence in the mutual benefits of the agreement for both parties and stressed the importance of delivering outcomes that reflect the true potential of the relationship.

Goyal also noted that there were significant opportunities for European countries to invest in India's infrastructure, utilities, and sustainable development projects. The comments came amid concerns over the EU's proposed carbon border levy, which could affect Indian exporters. The minister added that India was examining the proposal and expected that any outcome would be equitable and not impede the country's economic development.

In conclusion, Goyal emphasized the importance of further enhancing the bilateral trade relationship between India and the EU to ensure the prosperity of both regions. With the ongoing negotiations for a comprehensive trade agreement, both parties have the opportunity to overcome any remaining obstacles and create a new era of collaboration that benefits businesses and consumers alike.

Go!