One of the major underlying themes in the ongoing negotiations on India-EU FTA is the liberalization of trade and investment in banking services. With the help of FTA with India, EU is seeking greater market access and export gains for its banks through cross-border
supply and direct investments. Some of the key demands emanating from Europe include removal of all barriers to market access (commercial presence, cross-border supply and consumption) and grant of national treatment commitments. The EU banks and powerful lobby groups such as European Services Forum (ESF) have…