"The European Union (EU) has expressed willingness to re-engage with India in India-EU Broad based Bilateral Trade and Investment Agreement (BTIA) negotiations subject to certain conditions.
"India is willing to resume the negotiations without any preconditions and awaiting a response from the EU side. India is committed to an early and balanced outcome of the India-EU BTIA negotiations," Commerce and Industry Minister Nirmala Sitharaman said in a written reply in the Lok Sabha.
Replying to another query, she said the share of EU in India's total trade has been consistent during recent years at around 13 per cent. India's share of exports to EU has also been stable during the recent years at around 16 per cent of the country's total exports.
India-EU BTIA negotiations started in 2007 and 16 rounds of talks had been held till 2013, after which EU withdrew from the negotiations.
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The two sides are yet to iron out issues related to tariff and movement of professionals but the EU has shown an inclination to restart talks.
Besides demanding significant duty cuts in automobiles, the EU wants tax reduction in wines, spirits and dairy products, and a strong intellectual property regime.
The matter is crucial as it will have a bearing on Indian IT companies wanting market access.
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