India and the European Union appear to be closing in on a long-pending free trade agreement, with leaders on both sides signalling that negotiations are nearing their final stages.
Commerce and Industry Minister Piyush Goyal on Sunday reiterated India’s commitment to a “mutually beneficial, and ambitious” India-EU free trade agreement (FTA), stressing its importance for businesses and people on both sides.
He also described the EU as an important economic and strategic partner for India. “We value our shared commitment to a mutually beneficial, ambitious India-EU FTA for the prosperity of our businesses and people,” Goyal said in a social media post.
Welcoming EU Trade Commissioner Maros Sefcovic to India, the minister pointed to the progress made through regular dialogue between the two sides.
“Pleased to agree that sustained and constructive engagement between us and our teams over the past year has brought us closer to a fruitful outcome,” he said.
Sefcovic, who is visiting India along with other officials, said this was his 10th in-person engagement with Goyal, underlining the frequency of discussions over the past year.
“I’m confident to say we’re nearing the conclusion of our FTA negotiations. The cumulation of an intense past year - likely my most frequent trade engagement - reflecting its importance,” he said in a post on X.
