Parliamentary
Standing Committee during its meeting suggested Prime Minister to put
off signing of the India-EU free trade agreement (FTA) till the
committee deliberates on the issues raised before it.
The Chairman of the committe, Mr. Shanta Kumar stated that, in view of many issues and concerns raised by the various States, NGOs and stakeholders, it would be appropriate to defer signing of the India-EU FTA.
The negotiations have hit a roadblock after EU demanded that India provide free access to the automobile industry of Europe, especially Germany, hike the foreign direct investment (FDI) limit in insurance to 49 per cent, open up the financial sector through more reforms and lower taxes on wines and spirits.
The Chairman of the committe, Mr. Shanta Kumar stated that, in view of many issues and concerns raised by the various States, NGOs and stakeholders, it would be appropriate to defer signing of the India-EU FTA.
The negotiations have hit a roadblock after EU demanded that India provide free access to the automobile industry of Europe, especially Germany, hike the foreign direct investment (FDI) limit in insurance to 49 per cent, open up the financial sector through more reforms and lower taxes on wines and spirits.
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