India Inc for services FTA

On the eve of the UK PM Tony Blair8217;s arrival here for the India-EU Summit, India Inc on Monday favoured signing of specialised free trade agreement FTA with the EUn in the area of services.

In a survey conducted by Assocham, the industry body has said specialised FTA with EU in knowledge-driven sectors would suit the country8217;s interest and would provide a window of opportunity for the changing demographic profile of EU, which will face shortage of trained manpower for its growth.

The Assocham Business Barometer ABB, which interacted with over 100 CEOs and MDs of firms with special interest in the Euro Zone, found that Indian industry 8212; especially in the new economy areas of BPOs, information technology, bio-technology and pharmaceutical 8212; is keen on an institutional arrangement like an FTA with the EU in services.