Balanced, mutually beneficial India-EU free trade deal SOON: Union Minister Piyush Goyal

Following the 13th round of talks between India and the European Union, the nation’s Commerce and Industry Minister Piyush Goyal said that both sides were looking to work out a balanced and mutually beneficial free trade agreement soon.

The Union Minister’s comments came after the EU Trade Commissioner Maros Sefcovic and the European Agriculture Commissioner Christophe Hansen were in India to further the deal talks.

Goyal promptly took to X, formerly Twitter, to post: “It was a pleasure hosting you for the 13th Round of India-EU FTA negotiations. We remain committed to working towards a balanced and mutually beneficial FTA soon, to unlock massive opportunities on both sides. Thank you for your visit. Looking forward to our continued dialogue.”

EU’s Sefcovic on Friday also outlined how the trade pact with India would facilitate two-way trade in the auto sector—tariff liberalisation across all automobile components, from engines to brakes.

”The automotive market in India is expanding and thriving. And of course, I believe that our shared goal with [Piyush] Goyal is to ensure that the free trade agreement would facilitate two-way trade flows between India and the European Union under the condition of tariff liberalisation for all components, from engines to brakes,” he added.

Currently, India slaps an overwhelming 100 per cent+ duty in the auto import sector.

The latest EU statements also outlined how the US is being sidelined despite Donald Trump calling for new sanctions on India. In fact, Sefcovic stressed on “the mutual interest in engaging more closely on both, be it bilateral or global issues” between India and the EU.