Prime Minister Narendra Modi is expected to raise the issue of increasing non-tariff barriers on Indian exports to European markets during his summit-level meetings with European Commission President Jean-Claude Juncker and European Council President Donald Tusk.
“This is an issue that has been bothering India for quite some time now. This issue has impacted Indian exports to that market, especially from sectors such as pharmaceuticals, engineering and electronics,” a top official told BusinessLine .
This will be Modi’s maiden visit to Brussels. He will be attending the 13th India-EU Summit on March 30 and discuss a wide range of bilateral issues.
The EU’s imposition of several non-tariff barriers such as stringent trademark norms, labelling, usage of logos on consignments, sanitary and phytosanitary measures on Indian shipments, especially on generic drug exports, have made a dent on bilateral ties for almost a decade now, the official said.
“EU seizing India’s consignments, even in transit through their borders, has become a common practice. Both sides now have to find a mechanism to put an end to this,” the official added.
Discussions will also be held on the resumption of negotiations on the India-EU Broadbased Trade and Investment Agreement (BTIA), increasing investments and expansion of strategic partnership.
Meanwhile, during a press conference on Monday, Nandini Singla, Joint Secretary (Europe West), at the Ministry of External Affairs said that after the India-EU Summit both sides will release a document that will lay down a roadmap on the future strategy for India-EU trade and business ties.
Indian exports have been plummeting steadily for the last 15 months, mainly on account of weaker demand in Europe, which is its largest trading partner.
Other stops
On March 31 Modi will be attending the Nuclear Summit in Washington DC.
“The summit will help bolster nuclear cooperation among countries,” said Amandeep Singh Gill, Joint Secretary (Disarmament and International Security Affairs), Ministry of External Affairs. The Prime Minister will conclude his three-nation tour with a visit to Riyadh on April 2-3, where he will seek to strengthen energy ties with India. He will also visit the premises of Indian firms, including TCS and L&T, operating there.