Which of the following were major obstacles in finalization of Broadbased Trade and Investment Agreement (BTIA) between the EU and India?
Which of the following were major obstacles in finalization of Broadbased Trade and Investment Agreement (BTIA) between the EU and India?
The correct option is A 1 and 2 only
India and EU are hoping to make progress on the trade deal during the 13th EU India Summit in Brussels.
On 28th June 2007, India and the EU began negotiations on a broad-based Bilateral Trade and Investment Agreement (BTIA) in Brussels, Belgium.
The negotiations cover Trade in Goods, Trade in Services, Investment, Sanitary and Phytosanitary Measures, Technical Barriers to Trade, Trade Remedies, Rules of Origin, Customs and Trade Facilitation, Competition, Trade Defence, Government Procurement, Dispute Settlement, Intellectual Property Rights & Geographical Indications, Sustainable Development. So far, 15 rounds of negotiations have been held alternately at Brussels and New Delhi.
India’s Concern :
- India has been continuously asking for visa reforms by EU there by providing its professional a free access to EUs lucrative market
- India has also reservations by EU not declaring India a "data source" country. Being considered ‘data secure’ is crucial for a number of services especially in the IT and ITES sectors.
- The fishery and dairy sectors in the EU are highly subsidized. There is a fear of EU dairy products flooding Indian markets after the FTA is signed.
- EU has banned the alfanso mangoes last year owing to fruits fly in it EU thinks that food stuffs pose achallenge to their domestic produce owing to introduction of exotic species
- Recently EU banned 700 pharmaceutical drugs from India citing health concerns
EU CONCERNS
- Further in liberalization of FDI in multi-brand retail and insurance by India
- India’s intellectual property regime (IPR) is another impediment regarding regulation of generic formulations.
- EU demand on reduction in duties on automobiles and wines & spirit. India has reduced duties on parts and components, and other vehicles, but maintains high import duties on assembled vehicles
1 and 2 only
India and EU are hoping to make progress on the trade deal during the 13th EU India Summit in Brussels.
On 28th June 2007, India and the EU began negotiations on a broad-based Bilateral Trade and Investment Agreement (BTIA) in Brussels, Belgium.
The negotiations cover Trade in Goods, Trade in Services, Investment, Sanitary and Phytosanitary Measures, Technical Barriers to Trade, Trade Remedies, Rules of Origin, Customs and Trade Facilitation, Competition, Trade Defence, Government Procurement, Dispute Settlement, Intellectual Property Rights & Geographical Indications, Sustainable Development. So far, 15 rounds of negotiations have been held alternately at Brussels and New Delhi.
India’s Concern :
- India has been continuously asking for visa reforms by EU there by providing its professional a free access to EUs lucrative market
- India has also reservations by EU not declaring India a "data source" country. Being considered ‘data secure’ is crucial for a number of services especially in the IT and ITES sectors.
- The fishery and dairy sectors in the EU are highly subsidized. There is a fear of EU dairy products flooding Indian markets after the FTA is signed.
- EU has banned the alfanso mangoes last year owing to fruits fly in it EU thinks that food stuffs pose achallenge to their domestic produce owing to introduction of exotic species
- Recently EU banned 700 pharmaceutical drugs from India citing health concerns
EU CONCERNS
- Further in liberalization of FDI in multi-brand retail and insurance by India
- India’s intellectual property regime (IPR) is another impediment regarding regulation of generic formulations.
- EU demand on reduction in duties on automobiles and wines & spirit. India has reduced duties on parts and components, and other vehicles, but maintains high import duties on assembled vehicles
