India, EU Discuss Trade And Investment Deal

by Ulrika Lomas, Tax-News.com, Brussels

17 April 2013

Representatives from India and the European Union (EU) have held a "candid discussion" on all elements of the ongoing Trade and Investment Agreement negotiations, the Indian Government has said.

Anand Sharma, India's Commerce and Industry Minister, led a high level delegation to Brussels this week, where a ministerial dialogue was held with EU Trade Commissioner Karel De Gucht and the Agriculture and Rural Development Commissioner Dacian Ciolos. According to the Indian Government, the meeting covered all elements of the proposed package, and the desire to conclude an ambitious agreement was re-affirmed. The need for a fine balance between the expectations of market access on both sides was also underscored.

From the Indian perspective, securing a good deal on services is considered vital, with Sharma making this clear. He highlighted the importance of market access for agricultural products, pharmaceuticals and textiles, and stressed that India cannot go beyond the parameters of the Trade-Related Aspects of Intellectual Property Rights agreement or its own domestic intellectual property laws. De Gucht and Ciolos conveyed the EU's strong interest in financial services, the automobile sector, alcohol and cheese, and sought assurance on the registration of the EU's Geographical Indicators.

The next Ministerial meeting is scheduled for June.

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