India and the European Union resumed talks Monday on a free-trade deal after a nine-year gap, as Western countries seek to wean New Delhi off its close economic ties to Russia.
Dubbed the "tariff king" by ex-US president Donald Trump, India has become more open to lowering trade barriers in recent years and is negotiating pacts with several other countries.
India has refused to condemn Russia's invasion of Ukraine, even increasing oil purchases from its long-standing strategic ally and biggest supplier of arms.
The European Union is India's second-biggest trading partner after the United States but talks with the bloc broke down in 2013 over issues including tariff reductions and patent protection.
Merchandise trade hit an all-time high of $116 billion in 2021-22, with India's exports to the 27-member European Union hitting $65 billion, according to New Delhi.
"Both sides are aiming for the trade negotiations to be broad-based, balanced and comprehensive, based on the principles of fairness and reciprocity. There will also be discussions on resolving the Market Access Issues which are impeding bilateral trade," India's commerce ministry said earlier this month when announcing the first round of talks in Delhi, which were due to run until Friday.
India in February signed a major economic partnership agreement with the United Arab Emirates and in April agreed an interim free-trade deal with Australia, aiming to finish off a full pact by the end of the year.
India is also in trade negotiations with Canada, Israel and Britain. Prime Minister Boris Johnson said on a visit in April that Britain and India hoped to nail down an accord by October.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Gautam Gambhir's 5 Coaching Staff Suggestions Rejected By BCCI, Only 1 Gets Nod: Report "I Could Find Myself": Japanese Tourist Shares About Her Life-Changing Experience In India Beware: Hackers Fuelling Highly Technical WhatsApp E-Challan Scam In India In Massive Row Over Karnataka 100% Quota Bill, Chief Minister Deletes Post Dubai Princess Shaikha Mahra Divorces Husband In Insta Post, Cites Reason 25,000 Aspirants For Airport Jobs Paying Rs 22,000: A Mumbai Stampede Scare "UP Fed Up With Game Of Thrones": Akhilesh Yadav Amid BJP Infighting Buzz Centre Nominates Ex Foreign Secretary As US Ambassador To Secure Ties These Prime Ministers Have Presented Budget Instead Of Finance Ministers Track Latest News Live on NDTV.com and get news updates from India and around the world.