Picture Credit: Minister Piyush Goyal
India and the European Union (EU) reaffirmed their determination to conclude negotiations on a Free Trade Agreement (FTA) at the earliest, as senior EU officials visited New Delhi for high-level talks.
High-Level Meetings in Delhi
On September 12, Union Commerce and Industry Minister Piyush Goyal met European Union Commissioner for Trade and Economic Security Maros Sefcovic, Commissioner for Agriculture and Food Christophe Hansen, and other members of the EU delegation in the capital. The meeting was part of efforts to accelerate discussions on a comprehensive and balanced FTA.
Following the discussions, Mr. Goyal wrote on social media that both sides remain committed to a “fair and mutually beneficial” agreement that can unlock new opportunities for businesses and foster shared economic growth.
India Highlights Strategic Partnership
Later in the day, while addressing the Joint Ministerial Business Interaction on the India–EU FTA in New Delhi, Mr. Goyal underlined that India views Europe as “a trusted partner, a strategic ally and a friend committed to rule of law, sustainability, high quality standards, and inclusive growth.”
He stressed that the partnership should be seen not only in terms of trade expansion but also for the broader positive impact it can generate globally. “India and the EU complement each other rather than compete with each other,” the minister remarked.
EU Delegation’s India Visit
The visit of the European Commissioners, scheduled for September 12–13, follows an announcement by the EU Embassy in India earlier this week that the delegation would “take stock and power up” business ties while engaging with key Indian stakeholders.
The talks build on recent phone conversations between Prime Minister Narendra Modi and European leaders, including European Commission President Ursula von der Leyen and Italian Prime Minister Giorgia Meloni, during which the FTA was highlighted as a shared priority.
Progress and Sticking Points
India and the EU relaunched trade negotiations in June 2022 after an eight-year pause. Officials confirmed that 11 chapters—covering areas such as customs cooperation, trade facilitation, digital trade, and capital flows—have already been finalised. However, differences remain on sensitive issues including rules of origin, tariffs on specific products like wine and dairy, and non-tariff barriers.
India has emphasised that regulatory frameworks must be inclusive and proportionate, warning against measures that could restrict trade. Both sides aim to find what officials have called “the right equilibrium.”
Wider Strategic Engagement
The EU is India’s largest trading partner, with bilateral goods trade touching $135 billion in 2023–24. Two further rounds of negotiations are scheduled in the coming weeks—one in New Delhi and another in Brussels.
Beyond trade, cooperation is expanding into security and defence, including discussions on a security of information agreement and joint development of military technologies. The EU–India Trade and Technology Council (TTC), set up in 2022, continues to serve as a platform for dialogue on critical technologies such as semiconductors, quantum computing, artificial intelligence, and cybersecurity.
Looking Ahead
The India–EU leadership has set a goal of reaching a deal by the end of 2025. Meanwhile, India is also pursuing parallel trade negotiations with partners such as the UK, Sri Lanka, Chile, Peru, and the United States.
Prime Minister Modi recently thanked Italy for its support in pushing forward the India–EU FTA, noting that such agreements are central to advancing connectivity through initiatives like the India–Middle East–Europe Economic Corridor.
