Union Minister of Commerce and Industry Piyush Goyal, during his ongoing official visit to France, has underscored the robust enthusiasm in Europe for entering into a comprehensive Free Trade Agreement (FTA) with India. Speaking to ANI in Paris on June 1, 2025, Goyal highlighted the growing global confidence in India’s economic trajectory, which has spurred increased interest among European nations to deepen trade and diplomatic ties with India.

Goyal noted that the positive momentum for the FTA negotiations has been significantly bolstered following Prime Minister Narendra Modi’s meeting with European Commission President Ursula von der Leyen in New Delhi earlier this year. During that meeting, both leaders agreed to aim for the conclusion of a high-quality FTA by the end of 2025.

Goyal expressed confidence in the pace of negotiations, citing the strong rapport he has built with EU Trade Commissioner Maroš Šefčovič and the complementary nature of the Indian and European economies. He emphasized that while there is no rigid deadline, the rapid progress made so far suggests that the agreement could be finalized even before the year-end.

The Minister pointed out that the India-EU FTA talks, which resumed in June 2022 after an eight-year hiatus, now cover 23 policy areas, including trade in goods and services, investment protection, customs procedures, technical regulations, intellectual property rights, and sustainable development. Bilateral trade in goods between India and the EU reached $137.41 billion in fiscal 2023–24, with Indian exports valued at $75.92 billion and imports at $61.48 billion, making the EU India’s largest trading partner in goods. Additionally, bilateral trade in services was estimated at $51.45 billion in 2023.

Goyal acknowledged that while both sides are eager to move forward, there are still sensitive issues to be resolved, such as the EU’s Carbon Border Adjustment Mechanism and Deforestation Regulation, which India has flagged as concerns. However, he stressed that India is not shying away from any subject, including gender and sustainability, and is committed to negotiating a fair, balanced, and equitable agreement that benefits both parties.

Beyond the FTA, Goyal’s visit to France is focused on strengthening the Indo-French economic partnership. He is scheduled to hold bilateral meetings with French Minister of Economy Eric Lombard and Trade Minister Laurent Saint-Martin, as well as engage with top executives from leading French companies such as Vicat, TotalEnergies, L’Oréal, Renault, Valeo, EDF, and ATR. The visit will also feature the India-France Business Round Table and the India-France CEO Forum to foster dialogue and collaboration between industry stakeholders of both nations.

Goyal also expressed gratitude for France’s support following the recent terror attack in Pahalgam, highlighting the shared commitment to zero tolerance for terrorism. He underscored the strong personal rapport between Prime Minister Modi and French President Emmanuel Macron, which has given fresh momentum to Indo-French relations.

Following his engagements in France, the Minister will proceed to Italy for further discussions on trade and investment cooperation. The visit is seen as a crucial step in advancing India’s economic interests globally, with Goyal also participating in the informal gathering of WTO Ministers on the margins of the OECD Ministerial Council Meeting, where he will articulate India’s perspectives on key multilateral trade issues.

The visit signals India’s proactive engagement with Europe and its commitment to building mutually beneficial trade and investment relationships, while also addressing global challenges such as security and sustainability.

Based On ANI Report