India-EU trade: ‘Fair and balanced’ deal by December end; here’s what Piyush Goyal said in Doha

India is hopeful of reaching a “fair and balanced” trade agreement with the European Union (EU) by the end of December, commerce and industry minister Piyush Goyal said on Tuesday. The comments come as the 14th round of trade talks between the two sides takes place in Brussels.Goyal said that negotiations would be carried forward by commerce secretary Rajesh Agrawal who will be travelling to the EU headquarters later this week.“There has been a very good discussion going on between India and the EU in Brussels. Our entire team is there. We are hoping to work together in a spirit of deep understanding of each other’s sensitivities so that we can conclude a very equitable, fair and balanced trade agreement between the $20 trillion European Union of 27 countries and India, the fastest growing large economy in the world today,” he said in Doha, as cited by ET.He further highlighted the strengths each side brings to the table. “Our young, talented and skilled population is a great resource for the European Union; they need talented young people,” Goyal said. “The innovation and technology that the EU possesses hold tremendous potential for Indian businesses. Together, EU and Indian companies can leverage each other’s strengths to serve the world more effectively.”In talks with the United States, Goyal said discussions are continuing at “various levels,” but the ongoing US government shutdown has created uncertainty over when and where formal meetings can happen, ET reported.“Every possibility (for talks) exists, but the US government is currently in shutdown mode. Keeping that in mind, it remains to be seen how, where, and when the talks can take place,” he said.Meanwhile, India-US negotiations have stalled after President Donald Trump imposed 50% tariffs on several Indian goods in August. The move was partly a reciprocal measure and partly a response to India’s purchase of Russian oil. India has called the tariffs “unfair” but has not taken any retaliatory action till now, keeping dialogue open.