Modi skeds high-profile visit to France in May

New Delhi: Prime Minister Narendra Modi is set to attend the India-EU summit at Lisbon before he flies to France for a high-profile bilateral visit, sources said on Sunday.

India and European Union are likely to initiate talks for a broad-based trade and investment agreement (BBTIA) at the Portugal Summit on May 8.

Even as India and the EU are major trade partners since the negotiations started in 2007, the two nations have largely varied in their opinions over tariffs of alcohol, auto components, small cars, and data security.

To address these differences, external affairs minister S Jaishankar is also set to hold talks on a diplomatic level with the EU, to strengthen trade relations. The talks will begin between April 9 and 19.

Union Commerce Minister Piyush Goyal and EU executive vice president and commissioner for trade Valdis Dombrovskis will hold talks later in April, while EU diplomats were quoted as saying that "Date for Goyal-Dombrovskis meet are yet to be decided on."

Another senior government official hinted that "India and EU have shown more accommodation this time on various issues. The two countries have maintained a positive approach towards exports from both blocks."

India is also set to sign a bilateral trade agreement with post-Brexit Britain during Prime Minister Boris Johnson's visit to New Delhi on April 26. Given the development, the EU must complete the trade deal with India, according to reports.