EU-India Trade Talks: Momentum Builds for Free Trade Agreement

EU Trade Chief Maros Sefcovic is scheduled to visit New Delhi next week, signaling significant advancements in the free trade agreement negotiations, Indian Trade Minister Piyush Goyal announced recently. Talks with the European Union have been ongoing for three-and-a-half years, with rapid progress reported.

This announcement comes shortly after the U.S. imposed steep tariffs on Indian goods, sparking a renewed drive for India to strengthen ties with its largest trading partner, the EU. The next negotiation rounds are pivotal to achieving a deal by year-end, with both parties aiming for consensus.

Negotiations, which resumed in 2021 after an eight-year hiatus, focus on steep EU demands for duty cuts and India's ambitions for broader market access. With bilateral trade reaching $137.5 billion, this agreement holds transformative potential for both economies. A joint strategic agenda is envisioned for 2026.

(With inputs from agencies.)