New Delhi: India is moving into the final lap of its ambitious trade negotiations with the European Union. Union Minister of Commerce and Industry, Shri Piyush Goyal, is set to embark on a high-stakes two-day mission to Brussels starting January 8, aiming to provide the necessary “political momentum” to conclude the long-pending India-EU Free Trade Agreement (FTA).
The visit is being viewed as a “decisive push” at a historic juncture for bilateral economic relations. Since the formal relaunch of talks in June 2022—after a nine-year hiatus—both sides have engaged in 14 grueling rounds of technical negotiations. Goyal’s primary objective will be to hold high-level dialogues with Maroš Šefčovič, the EU’s Commissioner for Trade and Economic Security, to provide strategic guidance to negotiating teams and resolve pending bottlenecks.
Central to India’s strategy, guided by the vision of Prime Minister Narendra Modi, is the quest for “tangible benefits for the common man”. New Delhi is expected to double down on its demand for zero-duty access for its critical labor-intensive sectors, including:
Textiles and Apparel: Seeking to regain competitive parity with regional peers.
Gems and Jewellery: A major export driver for the Indian economy.
Leather and Handicrafts: Vital for the survival and scaling of Indian MSMEs.
Beyond simple tariff reductions, the agreement is envisioned as a comprehensive partnership addressing modern economic realities. The upcoming deliberations will cover key areas aimed at narrowing divergences on sustainability standards, digital trade, and supply chain integration.
”The visit underscores the intensifying diplomatic and technical engagements,” the Ministry of Commerce said in a statement, noting that the groundwork was recently laid during discussions between India’s Commerce Secretary Rajesh Agrawal and Sabine Weyand, the European Commission’s Director-General for Trade.
With the European Union standing as India’s largest trading partner and a massive source of foreign investment, the FTA is seen as a cornerstone for India’s goal of reaching a $5 trillion economy. By securing a rules-based trading framework, India hopes to safeguard the interests of its farmers and small businesses while emerging as a primary hub in the global industrial value chain.