India finalised a free trade agreement with the UK, its 16th so far as the country aimed at boosting bilateral trade and investments. The other regions and countries with which India has signed such agreements include the four-nation European bloc EFTA, Japan, Korea and Australia.
Time is running out for a possible India-Europe bilateral trade investment agreement that would be beneficial for both parties.
Agreeing to resist protectionism in global trade, India and the European Union announced reaching the final stage of a trade and investment opening pact, billed as one of the largest bilateral agreements.
Prime Minister Manmohan Singh will review the proposed bilateral trade and investment agreement between India and the EU at the meeting of the Trade and Economic Relations Committee (TERC) on May 29.
In the absence of progress on services negotiations in the WTO, India is sending a team of officials to Europe to strike a deal in the services area with the EU under the Bilateral Trade and Investment Agreement.
After initiating talks with the European Union for a trade agreement, India has now started talks with non-EU countries such as Norway to boost trade and investment flows.
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