The India-European Union Free Trade Agreement (FTA) is expected to be concluded soon, according to German Finance Minister Olaf Scholz.
Speaking at the India-Germany Business Summit in Berlin, Scholz said that the FTA negotiations have been going on for a long time and that the two sides are now close to reaching an agreement.
He said that the FTA would be beneficial for both sides and would help to further strengthen the economic ties between India and the EU.
The FTA is expected to cover a wide range of areas, including trade in goods and services, investment, intellectual property, competition, and government procurement.
The agreement is also expected to provide greater market access for Indian companies in the EU, as well as improved access to the Indian market for European companies.
Scholz said that the FTA would be a win-win situation for both sides and that it would help to create jobs and boost economic growth in both India and the EU.
He also said that the agreement would help to reduce the trade deficit between India and the EU, which currently stands at around €20 billion.
The FTA is expected to be concluded soon and Scholz said that he was confident that it would not drag on for too long.
He said that the agreement would be a major step forward in the economic relationship between India and the EU and that it would help to create a more level playing field for businesses on both sides.
The India-EU FTA is expected to be a major boost for both sides and will help to further strengthen the economic ties between the two sides. It is expected to provide greater market access for Indian companies in the EU, as well as improved access to the Indian market for European companies. It is also expected to reduce the trade deficit between India and the EU, which currently stands at around €20 billion.
