India and the European Union will resume negotiations on free trade agreement (FTA) in August to boost bilateral trade and investment.
“They (EU) have conveyed that they are available for talks in August,” commerce secretary Rajeev Kher told reporters here.
The talks on the FTA — formally known as India-EU broad-based Bilateral Trade and Investment Agreement — have been stalled since May 2013 with New Delhi reluctant to accommodate the EU’s pitch for lower duties on wines, spirits and automobiles, and Brussels not relenting to India’s demands for the ‘data secure nation’ status and easier movement of skilled Indian professionals in Europe.
India is keen to get the ‘data secure nation’ tag because without it Indian IT firms are finding it tough to get greater market access across EU-member countries. India is also looking at increasing its exports of textiles and leather items to EU.