Piyush Goyal
Piyush Goyal discusses India-EU FTA with Maroš Šefčovič during Brussels visit
Union Minister of Commerce and Industry Piyush Goyal visited Brussels from October 26-28 and had productive and meaningful engagements with Maroš Šefčovič, European Commissioner for Trade and Economic Security and his team on outstanding issues related to the ongoing India-EU FTA negotiations.
Both sides reaffirmed their shared commitment to conclude the India-EU FTA by the end of 2025, following the clear direction from Prime Minister Narendra Modi and President of the European Commission Ursula von der Leyen during the College of Commissioners’ visit to New Delhi in February 2025.
"The engagement focused on achieving a mutually beneficial, balanced and equitable trade agreement, reflecting the depth of political trust and the strategic ties between India and the European Union, and at the same time respecting each other's sensitivities and priorities," read a statement issued by the Indian government.
India recognises the importance of ensuring that the FTA remains balanced in addressing both tariff and non-tariff barriers and creating transparent and predictable regulatory frameworks that accelerate trade for both partners in the coming years.
There was intensive engagement to explore possible landing zones on the outstanding issues.
There was also a good discussion on India’s concerns on Non Tariff Measures and the new EU regulations.
During the negotiations, HCIM emphasised the need for preferential treatment for India’s key asks, particularly those with respect to labour-intensive sectors.
Both sides agreed to work closely to finalise the non-sensitive industrial tariff lines.
They also agreed that issues related to Steel, Auto, CBAM, and other EU regulations still require further discussion, as these issues have higher sensitivities.
"India looks forward to working closely with the European Union to transform this vision into reality through shared innovation, balanced, equitable, and meaningful trade, and a collective commitment to peace and prosperity," read the statement.
To advance the ongoing discussions, the EU technical team led by Director General for Trade will visit India next week with the objective of achieving a constructive conclusion based on the potential solutions identified over the past two days.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
