India-EU FTA Talks Productive, Moving Towards Final Agreement by 2025 End
Commerce Minister Piyush Goyal reported productive India-EU Free Trade Agreement (FTA) talks, with significantly narrowed gaps on key issues. Both sides are optimistic about a balanced and equitable deal, focusing on tariff and non-tariff barriers. Further technical negotiations are planned in New Delhi next week to expedite the FTA's conclusion, aiming to finalize the agreement by year-end 2025.
Union Commerce and Industry Minister Piyush Goyal completed a three-day negotiation visit to Brussels where detailed discussions with EU officials, including European Trade Commissioner Maros Sefcovic, took place. These talks focused on resolving outstanding trade issues to build a mutually beneficial and balanced Free Trade Agreement. Both parties identified possible compromises on sensitive issues like steel, automobiles, tariffs, and non-tariff barriers. The agreement aims to provide transparent, predictable regulatory frameworks that enhance trade and address both sides' core concerns. This progress follows directions from Prime Minister Modi and European Commission President Ursula von der Leyen in early 2025. Further technical negotiations are scheduled in New Delhi to accelerate finalization. The EU, India's largest trading partner (€124 billion goods trade in 2023), also seeks commitments on sustainable development, investment protection, and enforceable trade rules within this FTA framework. India has meanwhile demonstrated openness to modern trade deals, as reflected in its recent comprehensive deal with the UK, adding momentum to the India-EU talks targeted for completion by the end of 2025.
