India today said that it is ready to talk with the European Union, EU on negotiations for the proposed free trade agreement, FTA. Commerce and Industry Minister Nirmala Sitharaman told reporters in New Delhi today that she has assured the EU ambassador and ambassadors of individual EU countries that India is ready to talk with the European community as they have been the traditional trading partners. She said that the FTA has been delayed for a very longtime and several rounds of negotiations were held, but did not reach any logical conclusion. She said, the EU is looking forward to having an FTA with India and talks will be encouraging.No negotiation was held after both sides failed to bridge substantial gaps on crucial issues including data security status for the IT sector in May 2013. Launched in June 2007, the negotiations for the proposed Broad-based Trade and Investment Agreement (BTIA) between India and the 28-nation European bloc has witnessed many hurdles with both sides having major differences on crucial issues. The two sides are yet to iron out issues related to tariffs and movement of professionals but the EU has shown an inclination to restart talks. The two-way commerce stood at 101.5 billion dollars in 2013-14. Responding to a question on an FTA with the customs union of Belarus, Kazakhstan and Russia, Commerce Secretary Rajeev Kher said the joint study group has been created for the proposed pact and the meetings are in the process. He said, it is expected that it will take about six months to complete the process of consultations and thereafter then on the basis of recommendations both sides will start working on negotiations for an FTA.