Background: The European Union (EU) has expressed interest in considering a bilateral investment protection agreement (BIPA) with India, which would be disconnected from the proposed Free Trade Agreement (FTA) if the current negotiations are ongoing. Several contentious issues have been obstacles to the conclusion of the BTIA agreement between India and the EU. To draw them, CII proposes different measures and a way to correct them. These negotiations are in line with the commitment made by the Heads of State and Government at the 7th India-EU Summit in Helsinki on 13 October 2006 to negotiate a large-scale trade and investment agreement, based on the report of the India-EU High-Level Technical Group. The separation of a separate investment protection agreement from the bilateral free trade agreement, officially known as the Large-Scale Trade and Investment Agreement (BTIA), currently under negotiation, will allow the investment protection pact to be signed, even if there is no progress on BTIA. In its latest research paper, “Towards a New Economic Agreement between India and the EU,” CII analyses and identifies high-potential Indian exports to the EU. The aim is to restart trade negotiations between India and the EU on the Large-Scale Trade and Investment Agreement (BTIA), which stopped after 2013. The BTIA`s overall trade regime, which covers many factors in trade in goods, services and investment. As India is one of the EU`s main trading partners, if not the most important, due to the fact that India accounted for 13.5% of total trade in 2015-16.
The BTIA is therefore important for both the EU and India. India and Denmark agree to conclude bilateral trade and investment agreements covering topics: bilateral, regional and global groupings and agreements in which India participates and/or undermine India`s interests. Both India and the European Union have been negotiating the comprehensive trade and investment agreement for decades. The negotiations include many factors such as tariff reductions, market access and investment. The last rounds of negotiations took place in November 2013 and since then negotiations have been inftonated. LAtest events such as Brexit and the termination of other overseas investment contracts could have a direct impact on BTIA, and negotiations are expected to resume in the coming years. “Last year we committed to the comprehensive bilateral economic agreement with the EU, the so-called broad-based Trade and Investment Agreement (BTIA). Goyal said removing barriers to trade between India and Europe was essential to move forward, given that the EU is India`s largest trading bloc, with about $105 billion in merchandise trade in 2019. It is also the second largest destination for Indian exports. New Delhi, India, September 30 (ANI): Prime Minister Narendra Modi and his Danish counterpart, Mette Frederiksen, agreed to work quickly to conclude the bilateral large-scale trade and investment agreement. At the first virtual summit on 28 September, Prime Minister Narendra Modi and his Danish counterpart, Mette Frederiksen, agreed to make India and Denmark a green strategic partnership.
Neeta Bhushan, Joint Secretary (Central Europe), responded to a question on the EU-India free trade agreement: “It was agreed that both sides would work towards the speedy conclusion of the bilateral large-scale trade and investment agreement.” She also gave details of the discussion on COVID-19 by the two prime ministers. “The Danish Prime Minister said that the way she was treated in India was not conceivable and she expressed the depth of the appreciation of our Prime Minister`s leadership in this context.