Goyal's Europe tour boosts India-EU trade, technology & investment ties

Union Commerce and Industry Minister Piyush Goyal has concluded a five-day visit to Spain, Belgium, Finland and Estonia, aimed at strengthening India's economic engagement with Europe and building on the momentum created by the successful conclusion of the India-European Union Free Trade Agreement (FTA) negotiations.
According to the Commerce and Industry Ministry, Goyal's visit from July 13 to 18 included a series of high-level meetings with ministers, senior government officials, business leaders and industry representatives to boost investment, technology partnerships and business-to-business collaboration. He was accompanied by a high-level Indian business delegation.The ministry said the visit has imparted fresh momentum to India's growing economic partnership with Europe, with the understandings reached expected to enhance technology cooperation, increase investment flows, improve market access for Indian exporters and expand collaboration in emerging sectors.
In Spain, Goyal held talks with First Vice-President and Minister of Economy, Trade and Business Carlos Cuerpo Caballero and Minister of Industry and Tourism Jordi Hereu Boher. The two sides discussed institutionalising an annual India-Spain Joint Commission meeting with business participation, while Spain proposed creating a dedicated "India Team" to facilitate bilateral engagement.Both countries also agreed to advance technical discussions on interoperability between India's Unified Payments Interface (UPI) and Spain's Bizum digital payments platform. They identified opportunities for cooperation in automobiles, pharmaceuticals, chemicals, textiles, renewable energy, tourism and infrastructure.
Addressing the India-Spain Business Forum, Goyal urged businesses to forge early partnerships to leverage opportunities arising from the India-EU FTA and unveiled a "10×10×10" vision to increase bilateral trade, investment and tourism tenfold over the next decade.During his visit to Brussels, Goyal co-chaired the third India-EU Trade and Technology Council (TTC) Ministerial Meeting, where both sides adopted the 2026-27 TTC Action Plan. The European Union also approved 21 additional Indian fishery establishments, taking the total number of approved facilities to 625.India raised the issue of listing Indian ship recycling yards and proposed launching a dedicated India-EU dialogue on skills, education and talent mobility. Discussions also covered the proposed Investment Protection Agreement, Geographical Indications Agreement, cooperation on the Carbon Border Adjustment Mechanism (CBAM), regulatory simplification, market access for agricultural products, duty derogation for Basmati rice and steel scrap.
In Finland, Goyal met Acting Prime Minister and Finance Minister Riikka Purra and Minister of Economic Affairs Sakari Puisto. The discussions focused on collaboration in artificial intelligence, 6G technologies, quantum computing, clean energy, the circular economy, advanced manufacturing and innovation. He invited Finnish companies to establish manufacturing bases in India to serve global markets and deepen cooperation in telecom technologies, data centres, cloud computing and workforce development.The minister concluded his tour in Estonia, marking the first ministerial-level visit from India since the opening of India's resident Embassy in Tallinn in 2021. Speaking at the India-Estonia Business Forum, Goyal encouraged businesses to expand cooperation in cybersecurity, blockchain, clean energy and green hydrogen.The Commerce Ministry said the visit reaffirmed India's commitment to deepening strategic economic ties with Europe and accelerating cooperation in trade, investment and next-generation technologies as both sides work towards the early signing and implementation of the India-EU FTA.