Commerce and Industry Minister Piyush Goyal reaffirmed on Wednesday India's commitment to sealing a free trade agreement with the European Union before the end of 2025, adding that both sides were "making rapid progress" to finalise the contours of the deal.
"I had discussions in Paris as recently as two days ago to find pathways," he said in a joint press conference with Antonio Tajani, deputy prime minister of Italy, on Thursday. "We're committed to complete it before the end of the year."
Rounds of negotiations are happening every three–four weeks, intersectional meetings are happening every week, and at the ministerial level, according to Goyal.
"European Commissioner for Trade Maros Sefcovic and I have had three meetings in less than 35 days to speed up the negotiations," Goyal said. "It gives you an idea of the shared commitment."
The India-EU FTA, if finalised, would follow India's recent trade agreements with EFTA and the UK. "Now we have to only conclude the EU FTA," Goyal said, hinting that both sides are looking to conclude talks "much faster than the end of the year".
He added that once the broader FTA is concluded, it could unlock sector-specific agreements and trade facilitation mechanisms that further drive growth. "The FTA will create opportunities on both sides. Once it’s formalised, we’ll be able to identify specific sectors to deepen our engagement," he said.
"(The FTA) will recognise potential areas of cooperation, make trade easier, help reduce regulatory burdens, will reduce non-tariff barriers, and also recognise the sensitivities that both sides we have, so we don't focus on the sensitivities but on the complementarities," Goyal added.
The FTA is expected to cover goods, services, investment, sustainability, and digital trade. Prime Minister Narendra Modi and European Commission President Ursula von der Leyen had agreed upon this during the latter's landmark visit of the EU College of Commissioners to New Delhi in February 2025.
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