Union Commerce and Industry Minister Piyush Goyal is set to embark on a two-day official trip to Brussels this week to advance discussions on the India-EU Free Trade Agreement. The visit, scheduled for January 8-9, highlights the growing diplomatic and technical engagements between New Delhi and Brussels. India is advocating for duty-free access for sectors like textiles, leather, apparel, gems, jewelry, and handicrafts.
During his visit, Goyal will engage in high-level discussions with the European Union’s Commissioner for Trade and Economic Security, Maros Sefcovic. The main focus of these talks is to offer strategic direction to the negotiating teams, address pending issues, and hasten the finalization of a fair and ambitious agreement. The discussions are expected to cover various aspects of the proposed agreement, with an aim to bridge gaps and clarify outstanding issues.
The upcoming talks hold significance for India-EU economic ties as negotiations were relaunched ambitiously in June 2022 after a hiatus of over nine years. Both sides have shown strong political commitment to reaching a comprehensive deal. The EU is currently India’s largest trading partner and a significant investor, with bilateral trade in goods seeing substantial growth in the 2024-25 fiscal year. This agreement is viewed as more than just a trade pact, aiming to establish a broad partnership that addresses contemporary economic challenges.
