During his recent visit to Brussels from January 18 to 20, 2025, Indian Commerce and Industry Minister Piyush Goyal engaged in significant discussions with Maroš Šefčovič, the European Union Commissioner for Trade and Economic Security.

The primary focus of their talks was the ongoing negotiations for a Free Trade Agreement (FTA) between India and the EU, which have been underway since June 2022 but have faced challenges after nine rounds of discussions due to fundamental differences between the parties.

Goyal described the meetings as "productive," highlighting that they reviewed bilateral trade ties and the progress of the FTA negotiations. Both leaders emphasized the need for a fair, balanced, and equitable agreement that could enhance economic cooperation between India and the EU, which is one of India's largest trading partners, with bilateral trade exceeding $180 billion in 2023-2024.

In addition to discussing the FTA, Goyal and Šefčovič addressed broader global trade issues and explored ways to expedite negotiations. Goyal's visit is seen as a crucial step in reinforcing India's commitment to strengthening its trade relations with Europe, particularly amid ongoing global economic disruptions.

On the sidelines of these discussions, Goyal is also scheduled to meet with other key figures, including Ngozi Okonjo-Iweala, Director-General of the World Trade Organization, and representatives from Belgian industry and the Indian community.

ANI