Union Commerce and Industry Minister Piyush Goyal on Friday met EU Commissioner for Agriculture and Food Christophe Hansen, EU Commissioner for Trade and Economic Security Maros Sefcovic, and other officials of the EU delegation in New Delhi as part of efforts to expedite the conclusion of a comprehensive free trade agreement (FTA).
Goyal said, “We remain committed to achieving a balanced and mutually beneficial FTA, opening new avenues for businesses and maximizing opportunities for the shared growth of India and the EU.”
In a post on X, marking the 13th round of India-EU FTA negotiations, he added, “As the India-EU FTA negotiations continue, we reiterated our shared commitment to its early conclusion. A balanced and mutually beneficial FTA will unlock new opportunities for people and businesses on both sides. Both India and the EU are set to benefit immensely from the agreement we are striving to achieve.”
During the recent meetings, India emphasized that meaningful progress in trade negotiations requires equal attention to non-tariff barriers (NTBs) alongside tariff discussions. It also stressed that regulatory frameworks must be inclusive, proportionate, and not restrict trade.
So far, the two sides have finalized 11 chapters, including customs, trade facilitation, digital trade, and capital movements. However, significant differences remain on rules of origin, market access, and tariffs on products such as wine and dairy.
The EU is India’s largest trading partner, with bilateral goods trade reaching $135 billion in 2023-24. The 13th round of FTA talks will take place this week in New Delhi, followed by another round in Brussels.
Speaking at an Automotive Component Manufacturers Association of India (ACMA) event, Goyal expressed confidence that the proposed FTA would benefit the auto industry. “I am confident that the auto industry will find the arrangements we propose attractive and exciting, enabling businesses to grow, collaborate with partners from Europe and other regions, encourage innovation and research, and develop in India,” he said.
Meanwhile, Foreign Secretary Vikram Misri met the European Union Political and Security Committee (PSC) delegation, led by Chair Delphine Pronk, on Friday.
MEA Spokesperson Randhir Jaiswal said in a post on X, “Foreign Secretary Vikram Misri met with the EU PSC delegation, led by Chair Ms. Delphine Pronk, which paid its first-ever visit to Asia. Discussions focused on deepening security and defense cooperation under the India-EU Strategic Partnership and exchanging views on the latest regional and international developments.”
–IANS