Sneaking away in the corner of heavy moves like the PPA between NTPC and CIL and the zigzag expected on the rupee on its way back to below 56, Amit for ET reports a new FTA with the embattled Eurozone with India actually hoping for more market access in Textiles, leather and Engineering products as well as more visas for its working professional s presumably in Banking, IT and BPO. India is also looking for an elusive data secure certification from the conservative EZ. Needless to say, most items on India’s side of the FTA can be said to be a wishlist. Also not to sound opaque and narrowminded but it seems unlikely that India ill accede to the smaller bit demands from the Europeans if we are not getting anything in the FTA.
The infographic, which one assumes not be unduly optimistic or a laundry list includes on the European side, duty cuts for automobiles and wines/liquors; Market access for European dairy and increased banking licenses for banks from the region. One wonders if there are enough people in the sector to help realise the dreams on both sides in terms of knowledge of the real negotiation process?
Ikea announced its agreement to invest EUR 2 B in 25 centers over the weekend and Anand sharma expects to lead with Single Brand FDI. India is expected to refuse banking postal and legal sector access reforms for the Europeans in the time limit provided.
Again, needless to say it would be bilaterally explosive if these items were resolved with 100% agreement on both sides and unlikely to be any use with any limited agreements whence the idea of a “Free Trade Area”