TIWN

New Delhi, April 20 : Commerce and Industry Minister Piyush Goyal’s five-day visit to London, Oslo, and Brussels for strengthening India’s trade and investment relations with the UK, Norway, and the European Union is expected to begin on April 28, according to a senior official.
The visit to Oslo comes against the backdrop of India having signed a comprehensive free trade agreement with the four-nation European bloc EFTA in March last year. It is expected to be implemented this year. The European Free Trade Association (EFTA) comprises Iceland, Liechtenstein, Norway, and Switzerland.
The two sides signed the Trade and Economic Partnership Agreement (TEPA) in March, last year. India has received a commitment of a $100 billion investment over 15 years from the grouping, while allowing products such as Swiss watches, chocolates, and cut and polished diamonds from the region to come into the country at lower or zero duties as part of the agreement.
Negotiations have also picked up momentum for a trade agreement with the 27-nation European Union (EU). India and the EU are exploring the possibility of an early harvest agreement before finalising a comprehensive pact. The 11th round of negotiations between the two sides is scheduled from May 12–16 in New Delhi.
Goyal had said earlier this month that concrete steps are needed to remove existing trade barriers for speeding up the talks to sign a Free Trade Agreement (FTA) between India and the European Union.
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