At present, India`s trade regime and regulatory environment remain relatively restrictive. Technical barriers to trade (OTC), health and plant health measures (SPS), deviations from international standards and agreements, and discrimination based on India`s legislative or administrative measures affect a wide range of sectors, including goods, services, investment and public procurement. In 2019, bilateral trade between India and France amounted to 11.59 billion euros (up 0.60%) compared to the same period in the previous year. Indian exports to France were valued at 6.23 billion euros, or 4% during the period. Meanwhile, Indian imports from France fell by 3.07% to 5.35 billion euros. New Delhi`s call for a skilled Indian workforce allowed to work in Europe has been a sensitive point in discussions with EU officials under a long-negotiated free trade pact called the India-European Union Bilateral Trade and Investment Agreement (BTIA). List of agreements between two states, two blocs or one bloc and one state. Turkey has concluded bilateral and multilateral agreements: the agreement was signed between India and France in 2018, during The visit to India of French President Emmanuel Macron. However, France has yet to ratify the pact and is awaiting approval from the French Parliament. During French President Francois Hollande`s visit to India in January 2016, letters of intent were signed in the presence of Prime Minister Narendra Modi and Hollande in the area of smart and sustainable cities and helicopter production, as well as joint enterprise agreements and memorandums of understanding in the field of renewable energy/wind power.
In July 2020, bilateral trade between India and France amounted to 1.034 billion euros. India`s exports to France amounted to 390.9 million euros. Among the main exports to France were pharmaceuticals; T-shirts; Phones for „mobile“ mobile phone networks or other wireless networks; radars Half-products, made of iron or un-allied steel; New rubber tyres used in agricultural or forestry vehicles and machinery; items in jewelry and parts of them, in precious metals other than silver, even gilded or covered with precious metals; frozen shrimp of the genus „Penaeus“; Clothing for women or girls in synthetic fibres (excl. knitted or crocheted dresses and petticoats); Chemistry, shirts and shirts made of chemical fibres (excl. blouses and vests, excl. blouses, blouses and vests, etc.). The Chamber publishes a 14-day newsletter in French and English, which briefly informs on various topics of economics, trade and industry. „The agreement is an important step in improving contacts between citizens, promoting the mobility of students, academics, researchers and qualified professionals, and strengthening cooperation between the two sides on irregular migration and human trafficking,“ a government statement said.
The cabinet meeting was chaired by Prime Minister Narendra Modi. 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). The Eurasian Economic Union, composed of Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan, has concluded free trade agreements, see below. 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. Note: Any customs union, each
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