New Delhi, Jan 27 (PTI) The free trade agreement with the European Union (EU) has set up an assured regime for India to facilitate the temporary entry and stay of professionals in the 27-nation bloc, the commerce ministry said on Tuesday.

The professionals include business visitors, intra-corporate transferees, contractual service suppliers, and independent professionals.

Both sides announced the conclusion of negotiations for the free trade agreement (FTA) on Tuesday. It is likely to be signed and implemented this year only.

It said that through a comprehensive mobility framework, India strengthens its position as a global hub for talent.

The framework eases the movement of employees (and their spouses and dependents) of Indian corporates established in the EU in all service sectors.

"For business entities aiming to provide services under a contract to EU clients, India can access 37 sub-sectors, including IT, business, and professional services," the ministry said.

Independent professionals intending to provide services to the EU clients get certainty in 17 sub-sectors covering IT, R&D, and higher education.

It would create huge opportunities for domestic professionals in the bloc.

"India and the EU have agreed on a constructive framework to enable Social Security Agreements in five years with all the EU member states and a continuing conducive framework for entry of Indian students to study and avail post study work visa," it said.

It added that services being a dominant and faster-growing part of both economies will trade more in future.

Certainty of market access, non-discriminatory treatment, focus on digitally delivered services, and ease of mobility are expected to provide a boost to services exports.

Under the FTA, broader and deeper commitments have been secured from the EU across 144 services sub-sectors, including IT/ITeS, professional services, education, and other business services.

This covers a vast range of service sectors spectrum in which Indian service providers will get a stable and conducive regime in the EU market to supply their services.

"India's competitive, high-tech services are expected to drive India's exports while benefitting EU businesses and consumers," the ministry said.

On the other hand, India will offer 102 sub-sectors to the EU, which cover their priorities such as professional, business, telecommunications, maritime, financial, and environmental services.

"This will offer EU businesses a predictable regime to bring investment and innovative services to India, thereby enhancing their exports and providing best-in-class services to Indian businesses," it said.

This mutually beneficial framework is set to accelerate trade in services, unlock new opportunities for Indian professionals and businesses, and strengthen India's presence in high-value global markets, fostering innovation, skills mobility, and knowledge-based economic growth.

India's services exports to the EU is over USD 80 billion at present. PTI RR HVA

EU India FTA establishes an assured temporary entry regime and mobility framework for Indian professionals including transferees. The FTA creates an assured regime and comprehensive mobility framework to enable temporary entry and stay of Indian professionals-including business visitors, intra corporate transferees, contractual suppliers, and independent professionals-and their spouses and dependents, while securing market access and non discriminatory treatment across key services sub sectors.