India, EU aim to complete legal review of FTA text within 15-20 days
India and the European Union are expected to complete the legal scrubbing of the proposed Free Trade Agreement (FTA) text within the next 15-20 days
India and the European Union are expected to complete the legal scrubbing of the proposed Free Trade Agreement (FTA) text within the next 15-20 days, Commerce and Industry Minister Piyush Goyal said on Monday, indicating that the landmark trade pact is moving into its final stage before signing. According to PTI, the legal scrubbing process involves a detailed review of the negotiated agreement to ensure legal consistency, remove ambiguities and align the text with the domestic laws of both India and the European Union. Once this exercise is completed, the agreement will move towards formal signing and ratification before coming into force.
Speaking on the progress of the negotiations, Goyal said both sides are working to conclude the legal review within the stipulated timeline. He expressed confidence that the agreement remains on track to be signed by the end of this year, with implementation expected in the first quarter of 2027 after the required approval processes are completed, reported PTI. One of India's biggest trade agreements The India-EU FTA is regarded as one of India's most significant trade agreements, given that the European Union is among the country's largest trading partners. According to PTI, the pact is expected to provide greater market access for Indian goods and services, encourage investment, strengthen supply chains and expand economic cooperation across several sectors.
The agreement is also expected to lower trade barriers, improve opportunities for exporters and facilitate easier access to the European market for Indian businesses. It is likely to cover a broad range of areas, including trade in goods and services, investment, regulatory cooperation and other measures aimed at deepening bilateral economic ties. According to PTI, negotiations between India and the EU have gathered pace in recent months after both sides resolved several outstanding issues. The current legal scrubbing exercise marks the final technical stage before the agreement can be formally signed.
India and the European Union have been negotiating the proposed FTA for several years, with both sides viewing it as a strategic agreement that will strengthen long-term economic cooperation. If implemented as planned, the pact is expected to boost bilateral trade, improve investment flows and provide new growth opportunities for businesses in both markets.
The BriefWire