India asks EU to remove non-tariff barriers, standards to increase trade
Commerce and industry minister Piyush Goyal on Friday asked the European Union to remove non-tariff barriers and standards so as to increase bilateral trade. At the CEO forum and Sweden-India strategic business partnership, he said that these barriers are “very often unachievable for any country in the world almost other than Europe”.
“We will look for Sweden and EU to also opening its doors a little wider, removing some of the non-tariff barriers or standards which are very often unachievable for any country in the world almost other than Europe so that there I reciprocity in trade with Europe and Sweden and expand business on both sides,” Goyal said.
The minister also said India and Sweden will in the next three months draw up a roadmap to increase bilateral partnership.
“While Sweden and India score high on the partnership, the sad part is that in merchandise trade for the last 3-4 years, we have been falling and that is not a good sign,” he said.
India-Sweden bilateral trade in FY20 was $1.86 billion, down 12% from $2.11 billion in FY19.