Piyush Goyal Hails India-EU Free Trade Agreement
India and the European Union have concluded negotiations on a long-pending free trade agreement, with Piyush Goyal calling it a major milestone for India’s global trade strategy. Goyal said the agreement reflects India’s growing economic strength and its ability to negotiate on equal terms with major global blocs.
Goyal on India’s Trade Gains
The commerce minister said the agreement will open significant opportunities for Indian exporters, especially in sectors such as engineering goods, textiles, pharmaceuticals and services. He noted that India has protected sensitive sectors while securing better market access for domestic industries in Europe.
Balanced and Strategic Pact
Goyal emphasised that the deal was negotiated with a focus on long-term national interest, ensuring phased tariff reductions and safeguards for farmers and small manufacturers. He said the agreement would help Indian companies integrate into global value chains and attract higher investment.
Next Steps
The trade agreement will now move through formal approval processes in India and the European Union. Once implemented, it is expected to boost bilateral trade, create jobs and strengthen India’s position as a key global economic partner.
