India- EU trade and investment agreement intensifying: Anand Sharma
April 18th, 2011 - 6:10 pm ICT by ANINew Delhi, Apr 18 (ANI): Union Commerce and Industry Minister Anand Sharma today expressed satisfaction that negotiations of the EU-India Broad-based trade and investment agreement are intensifying.
During the bilateral meeting with Ireland Minister for Enterprise Richard Bruton, Sharma Said: “EU-India broad-based trade and investment agreement are intensifying with the 12th Round of negotiations scheduled for March 31 April 6 at Delhi, India is over.
Sharma informed that both the sides committed to a balanced, ambitious agreement by the spring of 2011.
“It is hoped that this agreement will lead to increase in opportunities for market access in both goods and services for each other,” he added.
Sharma informed that bilateral trade between the two countries touched 525 million dollars in 2009-10 compared to 688 million dollars 2008-09.
He confirmed the commitment of the government to play the role of a catalyst to drive engagement at the business-to-business level and to provide and environment which promotes trade and investments.
He further conveyed the Government commitment to expand investment flows into India, especially in the infrastructure sector.
He later informed that, Initiatives undertaken by India to attract foreign investment include virtual scrapping of the industrial licensing regime, allowing private sector in all fields of economy except atomic energy and railways transport.
“FDI policy in India is widely reckoned to be among the most liberal and investor friendly in the emerging economies,” he said. (ANI)
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Tags: atomic energy, bilateral trade, business level, catalyst, delhi india, emerging economies, foreign investment, government commitment, industry minister, infrastructure sector, investment agreement, investment flows, ireland minister, market access, million dollars, negotiations, New Delhi, private sector, railways, richard bruton