- India-EU Free Trade Agreement expected to be operational by end of 2026
- Piyush Goyal highlighted FTA's potential to boost business and trade ties
- Goyal visited Rotterdam Port to discuss trade, logistics, and digital cargo processes
Commerce and Industry Minister Piyush Goyal has said the India-European Union Free Trade Agreement (FTA) is expected to be operationalised by the end of 2026, with the pact coming into effect in the first quarter of 2027.
Speaking during an interaction with the Indian diaspora in Amsterdam on October 25, Goyal outlined the expected timeline for implementing the agreement, which is anticipated to open new opportunities for businesses and strengthen commercial ties between India and Europe.
The minister's remarks came during his visit to the Netherlands, where he held engagements focused on trade, investment and logistics cooperation. He also visited the Port of Rotterdam, Europe's largest port, and met its chief executive, Boudewijn Siemons.
Rotterdam's strategic position as a gateway to European markets could become increasingly significant as Indian exporters prepare to tap opportunities arising from the trade agreement.
The port's logistics infrastructure and international connectivity offer scope to strengthen cargo movement and India-Europe supply chains.
Goyal has also highlighted discussions between Indian customs authorities and Rotterdam port officials on digitalising cargo processes in India. The proposed cooperation aims to accelerate cargo evacuation, reduce ship turnaround times and improve operational efficiency.
Also Read | India-EU FTA: India, Rotterdam Port Engaged To Digitalise India's Cargo Processes, Says Piyush Goyal
Goyal Flags Concerns Over Youth and Changing Values
During his interaction with the Indian community, Goyal expressed concern over young people being influenced by what he described as negativity and the abandonment of traditional value systems in some European countries.
"Unfortunately, youth are getting swayed by some negativity," he said, adding that young people needed to become more responsive and responsible.
He also emphasised that Indians were peace-loving and contributed positively to the countries in which they lived and worked.
The diaspora gathering brought together around 70 participants, including business and professional representatives, at an event hosted by the Indian Embassy in Amsterdam.
Goyal's visit underscores India's efforts to deepen economic engagement with the Netherlands as preparations for the India-EU FTA advance. The agreement's implementation timeline and the development of efficient logistics links will be important factors for businesses seeking to expand trade between the two markets.
Also Read | India-UK FTA: Piyush Goyal Unveils Five Core Growth Pillars; Trade Target To Double By 2030
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.