Piyush Goyal Calls India-EU FTA a Landmark Win-Win Deal

Union Commerce and Industry Minister Piyush Goyal has described the India-European Union (EU) Free Trade Agreement (FTA) as a landmark deal that will expand market access, strengthen economic cooperation and create mutual benefits for both sides. Highlighting the agreement’s potential, Goyal noted that the European Union represents 27 countries with a combined GDP of nearly $20 trillion and high per capita incomes, offering significant opportunities for Indian businesses and exporters.

Goyal emphasised that India and the EU complement each other economically rather than compete directly, adding that the interests of sectors on both sides have been taken into account during negotiations. He also highlighted the significance of India and Germany celebrating 75 years of diplomatic relations and the 25th anniversary of their strategic partnership, which began during the tenure of former Prime Minister Atal Bihari Vajpayee. According to Goyal, the agreement represents a win-win outcome and has received acceptance from all 27 EU member states, underlining its importance for strengthening India-Europe trade and economic ties.