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India presses EU on climate rules as FTA talks near crucial juncture amid US threats

Jayanta Roy Chowdhury New Delhi, Jan 10 (UNI) In the midst of US tariff threats to India and an imbroglio over American demands that Greenland be handed over, New Delhi and Brussels are racing to bridge gaps on carbon pricing, steel access and market openings, with a new urgency to clinch a long-delayed free trade pact. India’s commerce minister Piyush Goel had remained locked in marathon trade talks on Friday with his European union counterpart Maros Sefovic to try and come to a consensus on contentious issues including Europe’s controversial carbon tax and India’s red lines on farm subsidies. Top commerce ministry officials told UNI, “We need the deal, they need it too as both want stable markets, which are shielded from tariff threats and we both want to decouple from China-led supply chains.

Central India's Premier English Daily

Central India's Premier English Daily

Credit: Centralchronicle

Key Highlights

  • India and EU both want to clinch the deal ahead of the Republic day visit by European Commission President Ursula Von Der Leyen and European Council President Antonio Costa.
  • “We are near … very near as far as I know.
  • Compromises are being found over EU’s carbon border adjustment mechanism tax and India’s labour movement demands,” said Prof Biswajit Dhar, former Head of the Centre for WTO Studies at Indian Institute of Foreign Trade (IIFT).
  • “By the time European union leaders arrive in New Delhi for the Republic Day celebrations later this month, trade negotiators on both sides hope to have something concrete to show,” Dhar said.
  • Other than the threat from US tariffs and policy decisions, other trategic considerations are also reshaping the talks.
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Sources

  1. India presses EU on climate rules as FTA talks near crucial juncture amid US threats

This quick summary is automatically generated using AI based on reports from multiple news sources. The content has not been reviewed or verified by humans. For complete details, accuracy, and context, please refer to the original published articles.

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