Piyush Goyal meets german leaders to advance India-EU trade partnership
New Delhi, May 14
Commerce and Industry Minister Piyush Goyal on Thursday held a productive discussion with senior leaders and policymakers from Germany on strengthening India-Germany economic cooperation and advancing the India-EU trade partnership.
"The discussions focused on strengthening the business environment, enhancing investment flows, and deepening collaboration across key sectors including textiles, pharmaceuticals, renewable energy, mobility and manufacturing," Goyal posted on X.
Both sides acknowledged the immense potential for expanding trade, fostering innovation, and building resilient supply chains through closer partnership and stronger industry engagement, he added.
In March, Goyal met Maros Sefcovic, European Commissioner for Trade and Economic Security, on the sidelines of the 14th Ministerial Conference (MC14) of the World Trade Organisation (WTO) in Cameroon, and reviewed progress on the India-EU free trade agreement (FTA).
Both the leaders deliberated on key priorities under the MC14 agenda and "reviewed progress on the ongoing work towards the signing of the India-EU FTA, as announced by PM Narendra Modi and European Commission President Ursula von der Leyen in January 2026 in New Delhi.
"Also discussed avenues to further deepen our bilateral economic and trade partnership," said Goyal in an X post.
The agreement between the world's second- and fourth-largest economies is among the biggest trade deals ever signed. In fact, it is far more than a trade deal. It represents a comprehensive partnership that fosters cooperation in critical sectors such as artificial intelligence, defence, and semiconductors. The FTA will benefit every region and citizen of India, the article observed.
The FTA ensures rules-based trade and stability in economic policies, making India even more attractive for domestic and foreign investment. This will create numerous opportunities for small businesses, startups, and workers.
India has secured unprecedented market access for more than 99 per cent of its exports to the EU by trade value, strongly bolstering the Make in India initiative. The FTA gives a decisive boost to labour-intensive sectors such as textiles, apparel, leather, footwear, marine products, gems and jewellery, handicrafts, engineering goods, and automobiles, the minister contended.
— IANS
Reader Comments
This is excellent news! India-EU trade partnership has been stuck for years. Finally, both sides are serious about signing it. The mention of AI, defence, and semiconductors makes it clear this is not just about selling goods—it's about strategic partnership. Make in India will definitely benefit. 👏
While I appreciate the initiative, I have my doubts. The EU has very strict environmental and labour standards. Will Indian SMEs be able to comply? The textile sector in Tirupur and Surat needs clear guidelines. Otherwise, this FTA could become another one-sided deal. Hope our negotiators keep our interests first.
This is huge! 🇮🇳 The world's second largest and fourth largest economies coming together. The fact that 99% of our exports will get market access is revolutionary for Make in India. My family runs a small leather goods business in Kanpur, and this could open doors we never had before. Fingers crossed! 🤞
Good move but execution matters more than announcements. Remember the India-ASEAN FTA? We got many raw materials but our manufacturing didn't benefit as expected. The EU is a tough negotiator—they will want access to our dairy and auto sectors. We must ensure reciprocity. Still, optimistic about this one!
The mention of semiconductors and AI is very promising! India has talent in these areas but lacks investment. EU collaboration could bring cutting-edge R&D to our shores. Also, a rules-based trade environment gives confidence to investors. Just hope the benefits reach the grassroots and not just big corporates.