EU wants investment protection pact with India
The European Union (EU) has expressed an interest in designing a bilateral investment protection agreement (BIPA) with India. This would be exclusive of the proposed free trade agreement (FTA) where ongoing negotiations are in a state of limbo.
India-EU talks collapsed in 2013 over certain demands from the EU such as greater market access for automobiles, wine and spirits, and further opening up of the financial services sector such as banking, insurance and e-commerce. India on its part sought easier work visa and study visa norms as well as data secure status that would make it easier for European companies to outsource business to India.