The EFT India-EU, if it were finalized, would follow the recent trade agreements of India with the EFTA and the United Kingdom. “Now we have to conclude that the EU FTA,” said Goyal, suggesting that the two parties seek to conclude talks “much faster than the end of the year”.
He added that once the widest of the ALE is finished, it could unlock sectoral agreements and commercial facilitation mechanisms that further stimulate growth. “The FTA will create opportunities on both sides. Once formalized, we will be able to identify specific sectors to deepen our commitment,” he said.
“(The FTA) will recognize the potential areas of cooperation, will facilitate trade, help reduce regulatory charges, reduce non -tariff barriers and also recognize the sensitivities we have, we do not focus on sensitivities but on complementarities,” added Goyal.
The FTA should cover goods, services, investment, sustainability and digital trade. Prime Minister Narendra Modi and the president of the European Commission Ursula von der Leyen had agreed during the latter’s historic visit to the EU commissioners in New Delhi in February 2025.
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