Source: Economic Times via Indian Economic Business News
Implementation of the free-trade agreement between India and EU will help in creating lakhs of jobs besides boosting two-way trade, a London-based non-profit organisation has said. Indo-European Business Forum (IEBF), a non-government organisation involved in promoting trade between the two sides, said that both the regions are facing problems related with unemployment. “When the free trade pact will come into force, it will help in creation of lakhs of jobs both in India and in the European Union (EU) nations,” IEBF’s India Head Sunil Kumar Gupta said. India and the 27-nation EU are negotiating the free trade agreement, officially dubbed as Bilateral Trade and Investment Agreement (BTIA), since June 2007 and are aiming to conclude negotiations soon.”The FTA would certainly help in creating more employment opportunities. The increase of business and growth of economies would result in creation of more jobs and uplift the standard of living in the EU and India,” Gupta added. The BTIA seeks to liberalise trade in goods and services.