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India-EU FTA Pact
With the world order looking wobbly, the European Union is eyeing to forge a broad global agenda in partnership with India and the two sides are set to firm up a free trade pact, a defence framework agreement and a strategic agenda at their annual summit on January 27. Top diplomatic sources told PTI that the free trade agreement to be sealed at the summit in New Delhi will be a "living document" on which work could be continued to iron out any issues that remain unresolved. "India and the EU can set the agenda for global governance, along with France, in the absence of the US," a senior EU official said. "India is one of the big players that we work with and can rely on." The proposed India-EU free trade agreement is expected to bring the relationship between the two sides much closer, with its positive impact being expected in a range of other sectors as well, at a time the world is witnessing trade disruptions in view of Washington's tariff policy. It is learnt that the two side
Negotiators of India and the EU on Monday commenced talks to resolve outstanding issues in the proposed free trade agreement, as the deadline to conclude the talks nears, the commerce ministry said. A team of negotiators from the European Union (EU) is here from November 3-7 for negotiations with Indian counterparts on the proposed Free Trade Agreement (FTA). Deliberations during the week will focus on core areas, including trade in goods, trade in services, rules of origin amongst others, along with technical and institutional matters. "The engagements aim to resolve key outstanding issues and advance the agreement toward a balanced and equitable framework that benefits both sides," the ministry said in a statement. This visit follows Union Minister of Commerce and Industry Piyush Goyal's official visit to Brussels (27-28 October, 2025), where he held forward-looking discussions with Maros Sefcovic, European Commissioner for Trade and Economic Security. "These consultations reaff
India and the European Union have agreed to continue discussions on issues pertaining to steel, auto, and carbon tax, as these areas carry higher sensitivities, under the proposed free trade agreement, the commerce ministry said on Wednesday. India has also pitched for ensuring redressal of both tariff and non-tariff barriers in the pact, besides creating transparent and predictable regulatory frameworks to boost bilateral trade, it said. These issues came up for discussions during the three-day visit of Commerce and Industry Minister Piyush Goyal to Brussels. He met EU Commissioner for Trade and Economic Security Maros Sefcovic and gave an impetus to the ongoing negotiations. The minister's official visit concluded on October 28. "They also agreed that issues related to steel, auto, CBAM (carbon border adjustment mechanism), and other EU regulations still require further discussion, as these issues have higher sensitivities," the ministry said. The EU has announced regulations su
The free trade agreement between India and the four-nation European bloc EFTA will come into force from Wednesday under which New Delhi has received an investment commitment of USD 100 billion in 15 years from the grouping while allowing several products such as Swiss watches, chocolates and cut and polished diamonds at lower or zero duties. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. It was signed on March 10, 2024. Domestic customers will get access to high-quality Swiss products such as watches, chocolates, biscuits, and clocks at lower prices as India will phase out customs duties under the trade pact on these goods over 10 years. The bloc committed an investment of USD 100 billion -- USD 50 billion within 10 years after the implementation of the agreement and another USD 50 billion in the next five years - which would facilitate the creation of one million direct jobs in India. This is a first-of-its-kind pledge agree
Greek Prime Minister Kyriakos Mitsotakis on Friday conveyed to his Indian counterpart Narendra Modi Greece's support for the early conclusion of a mutually beneficial India-EU free trade agreement. The issue figured during a phone conversation between the two prime ministers. Modi and Mitsotakis also took stock of bilateral ties between India and Greece, especially in areas of trade, investment and defence. "Both leaders welcomed developments in bilateral relations across sectors such as trade, investment, technology, shipping, defence, security, connectivity and people-to-people ties, and reaffirmed their commitment to further strengthen the India-Greece strategic partnership," according to an Indian readout. It said Mitsotakis conveyed Greece's support for the early conclusion of a mutually beneficial India-EU free trade agreement and for the success of the AI Impact Summit to be hosted by India in 2026. The call was initiated by the Greek leader. The 13th round of negotiations
The European Union on Wednesday unveiled a new strategic agenda to ramp up its engagement with New Delhi in several key sectors such as defence, trade and technology even as the 27-nation bloc's foreign and security policy chief Kaja Kallas said India's military exercises and its purchase of Russian oil "stand in the way of closer ties". The EU said its closer partnership with India is increasingly becoming vital in the wake of shifting geopolitical realities and that it is imperative for the two sides to strengthen economic growth and security. Hours after the 'New Strategic EU-India Agenda' was unveiled, Prime Minister Narendra Modi and European Commission President Ursula von der Leyen reaffirmed their commitment to finalise the much-awaited India-EU free trade deal by the year-end. The top EU leader dialled Modi to greet him on his birthday. "Now is the time to double down on partnerships rooted in shared interests and guided by common values. With our new EU-?India strategy, w
The free trade agreement (FTA) between India and the four-nation European bloc EFTA is likely to come into force from September, Commerce and Industry Minister Piyush Goyal said on Monday. The two sides signed the Trade and Economic Partnership Agreement (TEPA) on March 10, 2024. Under the pact, India has received an investment commitment of USD 100 billion in 15 years from the grouping while allowing several products such as Swiss watches, chocolates, and cut and polished diamonds at lower or zero duties. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. "It will enter into force by September," Goyal told reporters. He said the agreement has received approval from the Parliaments of all four countries. In Switzerland, there is an objection period open until July 10. July and August are holiday months here. He is here for an official visit to meet leaders and businesses to promote trade and investments between India and ...
Finland's Ambassador to India, Kimmo Lhdevirta, expressed confidence on Monday about finalising a much-awaited trade deal between India and the European Union (EU) by year-end. The ambassador inaugurated the honorary consulate of Finland in Ahmedabad. Kulin Lalbhai, a prominent businessman from Gujarat and Vice Chairman of Arvind Ltd, has been appointed as the Honorary Consul of Finland. The Finnish ambassador termed as "historic" the visit of the European Union College of Commissioners to India in February, stressing for a solution agreeable to both parties. "It was a really historic visit, and I think it also created very good momentum for the negotiations to go ahead. I think both leaders on the European side and India are now committed to the goal of having an agreement by the end of this year," he told reporters. Admitting that a lot of work needs to be done, Lhdevirta emphasised there is a good chance to achieve this goal. "At the moment, I would say that the momentum and t