Through a series of trade delegations and government-led trade initiatives, the Italian authorities have succeeded in establishing a dynamic relationship with India based on political, economic and scientific cooperation. The EU uses all available channels to cooperate with India to ensure fair market access and predictable investment conditions and to promote full compliance by both sides with its multilateral commitments under the World Trade Organization (WTO). The EU-India sub-committee, established as part of the 1994 EU-India Cooperation and Partnership Agreement, and its specialist technical working groups are key instruments in this regard. Trade and Industry Minister Anand Sharma said today that negotiations on the proposed free trade agreement between India and the EU could be concluded soon. Switzerland (which has a customs union with Liechtenstein, which is sometimes included in the agreements) has bilateral agreements with the following countries and blocs: Afghanistan has concluded bilateral agreements with the following countries and blocs: In fiscal year 2016, for example, trade between India and Italy increased to $8.80 billion. The fate of the India-EU Trade and Investment Agreement, which aims to further open bilateral markets to goods, investment and services, could be balanced, with India and the EU closing the horns on integrating labour standards into the pact. It is a list of free trade agreements between two parties in which each party could be a country (or another customs territory), a trade bloc or an informal group of countries. Gentiloni`s visit to India is a deliberate attempt to revive diplomatic relations and strengthen bilateral trade. In fact, trade between Italy and India is increasing with a growth rate of 30%. Japanese carmakers are asking the government for “me too” status if it decides, as part of the India-EU free trade agreement, to reduce tariffs on cars imported from Europe.
Negotiations for a comprehensive free trade agreement between the EU and India began in 2007 and suspended in 2013, with ambitions between the EU and India lacking. The EU remains committed to working towards an ambitious, comprehensive and balanced free trade agreement with India, which meets the best interests of each side and is a win-win. India is one of the world`s fastest growing major economies and an important player in global economic governance. India is an important trade and investment partner for the EU. It is an important and dynamic market, with an annual GDP growth rate of around 6% (before Covid-19). List of agreements being negotiated. Agreements that have so far been discussed only in the absence of formal action by the parties concerned are not mentioned. The People`s Republic of China has bilateral trade agreements with the blocs, countries and their two specific administrative regions: The EU continues to work with India to ensure that such an agreement is economically viable, providing both sides with genuine new market openings in all sectors, providing a strong rules-based component and integrating a comprehensive chapter on trade and sustainable development. , in particular to deal with social and environmental consequences.
At the same time, the EU is ready to consider entering into negotiations for an autonomous investment protection agreement, which would enhance the legal security of investors on both sides. Relations between the two nations soured in 2012, when Italian navies mistaken two Indian fishermen for pirates, killing the two men off the coast of southern India.