Union Minister Piyush Goyal: India and EU Working Toward a ‘Two-Way Opportunity’ Trade Pact

Union Minister of Commerce and Industry Piyush Goyal said that India and the European Union are moving steadily toward finalizing a “win-win” Free Trade Agreement (FTA), describing it as a “two-way opportunity” that would strengthen economic and strategic ties between the two regions.

During his October 2025 visit to Brussels, Goyal held extensive discussions with European leaders, including EU Commissioner for Trade and Economic Security Maroš Šefčovič. The minister said the proposed trade pact is built on complementarity—Europe’s technological and innovation strengths on one hand, and India’s expanding market and manufacturing base on the other.

“We are working for a two-way opportunity for India and Europe,” Goyal said, adding that India represents the “voice of the Global South” and stands for the less privileged nations. He highlighted India’s rapid economic progress, its growing global value, and an unmatched spirit of innovation and entrepreneurship driving the country’s transformation.

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Acknowledging the complexity of ongoing negotiations, Goyal noted that significant progress had been achieved in recent rounds. “We have made huge progress and are moving in the right direction. Important issues still need to be resolved, but both sides should get good deals—then the deal will be made,” he said.

The commerce minister also indicated that several meetings are scheduled with European counterparts in the coming months to iron out pending differences and advance the framework toward completion. “We are going to have a large number of meetings with the Europeans. We want to expand our relations for an aspirational India,” Goyal stated.

Separately, Goyal mentioned that India is also pursuing a Free Trade Agreement with New Zealand, underscoring the country’s broader push to strengthen global trade partnerships and create new growth opportunities for Indian exporters.

If concluded, the India–EU FTA would be one of New Delhi’s most significant trade pacts, potentially boosting bilateral commerce and investment across sectors such as technology, manufacturing, and sustainable energy.