India-EU FTA nears closure as Piyush Goyal reports major progress

Union Commerce Minister Piyush Goyal, during a press conference today after his Brussels visit (26-28 October 2025), said he had several interactions on outstanding issues related to the ongoing India-EU FTA negotiations, with businesses from Europe, and that India was working towards a fair, equitable and balanced free trade agreement with the EU.

"If I were to summarise the visit, first, we have made significant progress in this three-day discussion. We have agreed to close 10 out of 20 chapters. Another 4 or 5 chapters have, in principle, been broadly decided. We are moving towards convergence so that when their team visits next week, we should be in a position to make significant and substantial progress towards closure," says the Union minister.

He said India recognises mutual sensitivities and strengths of each country, and is working in a spirit of partnership to promote trade, investments, technology flow, mobility, etc. "The engagements at the Berlin Global Dialogue, along with meetings with my counterparts and ministers from the German government and some other countries and a large number of meetings with European businesses have shown that all businesses today want to expand relations with a resurgent, strong, decisive, democratic and aspirational India," the minister said.

He said during discussions, India again demonstrated that it speaks for the Global South. "We represent the voice of the less privileged, less developed or developing economies and stand for collective action for global good, peace and prosperity."

India has said that it recognises the importance of ensuring the FTA remains balanced in addressing both tariff and non-tariff barriers, and creating transparent and predictable regulatory frameworks that accelerate trade for both partners in the coming years. Both sides also discussed India’s concerns about non-tariff measures and the new EU regulations.

During the minister's trade talks with EU representatives, both sides have committed to concluding the India-EU FTA by the end of 2025. The government has emphasised the need for preferential treatment for India’s key asks, particularly those with respect to labour-intensive sectors. The EU technical team, led by the Director General for Trade, will visit India next week to achieve a constructive conclusion to the much-anticipated deal.

Meanwhile, the India-US trade deal could also be nearing completion, if US President Donald Trump's remarks are to be believed. During his address at the Asia Pacific Economic Cooperation (APEC) CEOs Luncheon in South Korea today, Trump heaped praises on Prime Minister Narendra Modi, describing PM Modi as the "nicest looking guy", who is "tough as hell". He also said that "I am doing a trade deal with India, and I've great respect and love for PM Modi."

Trump, however, didn't mention the timeline about when the long-pending trade deal will be signed between India and the US. Some see Trump's remarks as a positive sign after a series of adverse events, including the imposition of 50% tariffs on India's exports to the US.