India–EU Push to Seal ‘Balanced and Fair’ Free Trade Agreement: Piyush Goyal

Union Commerce and Industry Minister Piyush Goyal said India and the European Union are working with full dedication to finalize a comprehensive and balanced free trade agreement. Such an agreement cannot be unilateral. In all rounds of negotiations, the interests of both sides are taken up for a fair and balanced agreement.

The Minister held discussions with European Union Trade Commissioner Maros Sefcovic in New Delhi on Monday and said a final decision on the proposed FTA will be taken soon. Maros led a delegation of EU officials to the trade talks. The meeting was decisive, said Minister Goyal in a social media post. We discussed how outstanding issues can be resolved to move the negotiations forward.

He stated that continued cooperation towards a mutually beneficial FTA is expected. Indeed, differences remain in some areas, including steel, carbon taxes, automobiles, and non-tariff barriers, which need to be addressed. The EU specifically wants tariff reductions on products such as automobiles, medical devices, wine, spirits, and meat in India.

India and the 27-nation EU resumed negotiations for a comprehensive FTA, investment protection agreements, and agreements on geographical indications in June 2022 after a gap of eight years. The EU was India's largest trading partner in 2024-25, with bilateral trade reaching ₹1.36 lakh crore. This agreement is considered extremely important for both economies. In June 2022, India and the 27-nation European Union grouping resumed negotiations for a comprehensive free trade agreement (FTA), an investment protection pact, and an agreement on geographical indications after a gap of more than eight years.