With which among the following group of countries did India have negotiation on Bilateral Trade and Investment Agreement (BTIA)?

The correct answer is EU.

Key Points

• India has been in negotiations with the European Union (EU) for a Bilateral Trade and Investment Agreement (BTIA) since 2007.
• The BTIA aims to enhance trade and investment flows between India and the 27-member EU bloc, which is one of India's largest trading partners.
• The agreement is comprehensive, covering goods, services, investment, and intellectual property rights, among other areas.
• Despite multiple rounds of negotiations, the BTIA has faced challenges due to differences on issues like tariff reduction, intellectual property rights, data privacy, and market access.
• In 2021, India and the EU resumed formal negotiations to expedite the process, focusing on trade, investment, and a Geographical Indications (GI) Agreement.

Additional Information

• Bilateral Trade and Investment Agreement (BTIA):
  • BTIA is a free trade agreement (FTA) that includes provisions for trade in goods, services, and investment protection.
  • It aims to provide a framework to facilitate business and investment while addressing regulatory barriers.
• European Union (EU):
  • The EU is a political and economic union of 27 member states located primarily in Europe.
  • It is India's second-largest trading partner, accounting for around 11% of India's global trade in goods in 2021-22.
• Challenges in BTIA Negotiations:
  • India has concerns over data adequacy status, agricultural subsidies, and labor standards.
  • The EU seeks greater market access for its automobiles, wines, and spirits in the Indian market.
• India's FTAs:
  • India has signed FTAs with ASEAN, Japan, South Korea, and other countries to boost trade relations.
  • BTIA with the EU is expected to complement India's existing trade agreements.