India, EU Target FTA Conclusion Within Two Weeks Amidst Intense Negotiations

• India and the European Union aim to conclude Free Trade Agreement (FTA) talks within two weeks, with 20 of 24 chapters already closed.
• Negotiations are in their final, most challenging phase, focusing on issues like Carbon Border Adjustment Mechanism (CBAM), Geographical Indications (GI), critical minerals, and Intellectual Property Rights (IPR).
• Sensitive agricultural issues have been removed from the negotiation table, streamlining discussions.
• The EU seeks unrestricted critical mineral exports from India, while India requests exemptions for stainless-steel exports to the EU.
• Bilateral goods trade reached $137.5 billion in FY 2023-24, with India seeking market access for labour-intensive goods and the EU for automobiles and liquor.

Why It Matters: India and the EU are pushing to finalize FTA talks within two weeks, navigating complex trade issues.