As India progresses in trade negotiations with Europe, industry experts and policymakers highlighted the importance of enhancing standards infrastructure and digital compliance systems. This emphasis aims to assist Indian businesses in accessing European markets more effectively and overcoming non-tariff barriers. The discussions took place at a conference on “Next-Gen Trade Pacts: Leveraging India’s Partnership with Europe under FTAs” in New Delhi.
FICCI Secretary General Anant Swarup, at the conference, emphasized the increasing significance of India’s trade relations with European economies. He noted the ongoing free trade agreement negotiations and the evolving global trade frameworks as key drivers for this emphasis. Harish Ahuja, Chair of the FICCI Foreign Trade and Trade Facilitation Committee, stressed the necessity for India to bolster its standards infrastructure, testing capabilities, and digital compliance tools to stay competitive in European markets.
Dr. James J. Nedumpara, in his address, highlighted that modern trade agreements extend beyond tariff reductions, shaping the future of international trade through broader economic and regulatory collaboration. Additional Secretary Darpan Jain from the Department of Commerce and Industry described the India-European Union Free Trade Agreement negotiations as a significant milestone in India’s economic diplomacy. The agreement is expected to offer preferential tariff treatment to 99.5% of Indian exports and enhance India’s integration into European value chains.
Director General of FICCI Jyoti Vij, in closing remarks, emphasized the importance of industry awareness and preparedness to maximize the benefits of trade agreements. The event, organized by the Centre for Trade and Investment Law at the Indian Institute of Foreign Trade in collaboration with the Federation of Indian Chambers of Commerce & Industry, aimed to address the challenges and opportunities in India’s trade relations with Europe.
