India and EU Set Sights on Landmark Free Trade Agreement

Union Commerce and Industry Minister Piyush Goyal highlighted India's aspirations for a meaningful Free Trade Agreement (FTA) with the European Union during an automotive conference in New Delhi. Goyal expressed hope for a balanced and mutually beneficial agreement that strengthens the ties between the two regions.

European Trade Commissioner Maros Sefcovic and Commissioner for Agriculture and Food Christophe Hansen visited India to lead FTA negotiations, as both sides strive for progress through sincere efforts and heightened cooperation. Goyal emphasized the importance of collaboration and innovation between Indian and European industries.

Speaking at the ACMA convention, Goyal underscored potential agreements requiring compromise, asserting the automotive sector's role in India's manufacturing agenda. He cited tax reforms as support for the industry and urged collaborations for resilient supply chains. Sefcovic also reaffirmed mutual benefits through potential trade liberalization.

(With inputs from agencies.)