India, EU well on track for FTA deal, says Piyush Goyal

India and the European Union are moving steadily towards concluding a long-awaited free trade agreement (FTA) by the end of this year, with both sides expressing optimism about reaching a balanced and mutually beneficial pact.Union commerce and industry minister Piyush Goyal said India would gain from Europe’s “technology and innovation,” while the EU would benefit from India’s “growth story, scale, and resilience.” He was speaking at the 65th annual session of the Automotive Components Manufacturers Association (ACMA) on Friday, alongside EU commissioner for trade and economic security Maroš Šefčovič.
“Both India and the EU are set to benefit immensely from the free trade agreement we are striving to achieve,” Goyal said, underlining that negotiations were progressing with “sincerity and commitment.” He added that trade agreements must be comprehensive and fair, stressing, “It is important not to let the search for a perfect deal become the enemy of progress.”The EU delegation, led by Šefčovič and agriculture commissioner Christophe Hansen, is in New Delhi for the 13th round of negotiations. On Thursday, Goyal hosted a dinner for the delegation, posting on X that both sides reiterated their “shared commitment” to conclude talks early.Šefčovič said the talks had gained strong momentum, backed by political will at the highest level. “Given the political will on both sides, I think we are set to meet the deadline,” he said, adding that European Commission President Ursula von der Leyen and Prime Minister Narendra Modi had agreed to finalise negotiations by year-end.

Delighted to host my friend @MarosSefcovic, EU Commissioner for Trade and Economic Security, and @CHansenEU, Commissioner for Agriculture and Food, along with the EU delegation for dinner.

As the India-EU FTA negotiations continue, we reiterated our shared commitment towards its… pic.twitter.com/xWj3hk0sla

— Piyush Goyal (@PiyushGoyal) September 11, 2025

Highlighting the depth of the partnership, Šefčovič noted that the EU and India were “two of the largest economies in the world, built on innovation and economic opportunity, and underpinned by our shared democratic principles.”Trade between the two partners has expanded significantly in recent years. The EU emerged as India’s largest trading partner in 2024, ahead of the United States and China, with bilateral trade in goods reaching €140 billion in 2023. More than 6,000 European companies currently operate in India, and trade has grown by about 90% over the past decade.
Addressing the automotive sector, Goyal said the industry would find the FTA provisions “attractive and full of potential.” Recalling Prime Minister Narendra Modi’s description of the automobile sector as the torchbearer of the ‘Make in India’ programme, he urged the industry to aim higher, strengthen supply chains, and contribute to jobs, exports, and advanced manufacturing.Looking ahead, Goyal described the prospective deal as a “robust, fair, equitable, balanced and win-win partnership,” emphasising that the agreement would strengthen not only India-EU economic ties but also contribute positively to the global economy.