Piyush Goyal Engages EU Team in FTA Negotiations Ahead of U.S. Talks

Commerce Minister Piyush Goyal engaged with the EU delegation in Mumbai to discuss the forthcoming FTA, setting the stage for negotiations in Brussels from March 10-14. India is simultaneously negotiating with the UK and planning bilateral talks with the U.S. for a multi-sector BTA, aiming to conclude several trade agreements by the end of the fiscal year.

Commerce Minister Piyush Goyal met with the European Union delegation in Mumbai to discuss the proposed Free Trade Agreement (FTA), setting the stage for the 10th round of negotiations scheduled for March 10-14 in Brussels. This meeting is part of India’s broader strategy, as the country simultaneously engages in trade negotiations with multiple developed economies, including the United Kingdom and the United States, to advance its global trade agenda.

During the meeting, Minister Goyal and EU Trade Commissioner Maros Sefcovic discussed key aspects of the FTA negotiations, aiming for a balanced and mutually beneficial outcome. Goyal later expressed, “Had a productive meeting… Our discussions focused on accelerating efforts towards a balanced & mutually beneficial Free Trade Agreement.” This highlights India’s commitment to strengthen economic ties with the EU.

Alongside the EU FTA discussions, negotiations with the United Kingdom were relaunched in New Delhi on February 24, 2025. Goyal is also preparing for significant talks with the United States to establish a multi-sector Bilateral Trade Agreement (BTA), a product of previous discussions between Prime Minister Narendra Modi and former President Donald Trump, with a goal to finalize the first segment by fall 2025.

The upcoming discussions in the U.S. include meetings with United States Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick, where key sectors such as trade and energy will be explored. India aims to utilize its position of economic strength and strategic importance in these negotiations, emphasizing the desire for comprehensive trade, investment, and strategic agreements from other countries.

As India progresses through negotiations with the U.S., EU, and UK, all three economies are working towards concluding their respective trade agreements by the end of the fiscal year. Notably, India’s trade performance has been strong, with exports to the U.S. reaching $59.93 billion in 2024, underscoring the significance of these ongoing negotiations.

In summary, Commerce Minister Piyush Goyal’s discussions with the EU delegation pave the way for advancing trade negotiations, while parallel engagements with the UK and U.S. strengthen India’s global trade strategy. The emphasis on a balanced approach in the FTA negotiations signifies India’s commitment to fostering robust economic partnerships with developed economies. With ambitious targets set for 2025, India is strategically positioning itself as a significant player in global trade.

Original Source: www.hindustantimes.com