Finance
Shri Piyush Goyal, Minister of Commerce & Industry of India, and Mr. Maroš Šefčovič, European Commissioner for Trade and Economic Security, engaged in a forward-looking and substantive dialogue to address global trade challenges and reaffirm their shared resolve to conclude the India-European Union Free Trade Agreement (FTA) by the end of 2025. This commitment builds on the strategic direction given by Prime Minister, Shri Narendra Modi and President of the European Commission, Ms. Ursula von der Leyen during the landmark visit of the EU College of Commissioners to New Delhi in February 2025.
The high-level engagement underscores the strategic importance both partners attach to building a commercially meaningful, mutually beneficial, balanced, and a fair trade partnership that supports economic resilience and inclusive growth. The meeting highlighted the progress made across multiple negotiating tracks and emphasized the importance of maintaining the ongoing momentum through monthly negotiating rounds and continued virtual engagement. Both sides reiterated their aim to address pending issues in a spirit of mutual respect and pragmatism, including at the next round scheduled to be held from 12-16 May 2025 in New Delhi.
India emphasized that meaningful progress in trade negotiations requires equal focus on non-tariff barriers (NTBs) alongside tariff discussions and regulatory frameworks must be inclusive, proportionate, and avoid restricting trade.
The India-EU FTA aspires to reflect the evolving realities of global commerce by supporting digital transition, promoting diversified and resilient supply chains. Both sides expressed optimism that the agreement, once concluded, will serve as a transformative pillar of the broader India-EU strategic partnership, enhancing market access, supporting regulatory cooperation, and fostering innovation and competitiveness on both sides. Both sides acknowledged the crucial role of investment flows and people-to-people mobility in sustaining economic vitality.
In the spirit of India’s emergence as a “Vishwa Mitra”—a partner to the world—and aligning with its 2047 development goals, the India- EU FTA is seen as an instrument to promote diversified production networks and uphold fair trade principles. As India continues to broaden its footprint through multiple free trade deals, this dialogue reflects its broader vision of shaping a future-ready framework aligned with national priorities and global aspirations.
Source: PIB
