External Sector

Indian Economic System

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‘Broad-based Trade and Investment Agreement (BTIA)’ is sometimes seen in the news in the context of negotiations held between India and

European Union

Gulf Cooperation Council

Organization for Economic Cooperation and Development

Shanghai Cooperation Organization

Explanation:

Negotiations for a free trade pact, formally called a Broad-based trade and investment agreement (BTIA), between the EU and India started in 2007, but were unofficially suspended in 2013 when both sides realised that no movement was happening on contentious matters.

EU has raised concern over what it called India’s “unilateral termination” of existing Bilateral Investment Treaties (BITs) with “a significant number of” EU-member countries.

By: Abhipedia

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