The India-Meeting on BTIA Talks: Recent Developments: UPSC Daily Important Topic | 4 November 2022

The India-Meeting on BTIA Talks: Recent Developments

 ✓On 15 November 2017, senior officials of India and European Union (EU) held discussions on the long-stalled free trade pact and expressed willingness to address issues in a time-bound manner.

✓The negotiations for the pact have been held up since May 2013 as both the sides are yet to bridge substantial gaps on crucial issues such as:

o intellectual property rights,

o duty cut in automobile and spirits, and

o liberal visa regime.

✓The two sides have to iron out differences related to movement of professionals. A liberal visa regime is key for India in this context.

✓The EU, besides demanding significant duty cuts in automobiles, wants tax reduction in wines, spirits and dairy products, and a strong intellectual property regime.