India-EU Free Trade Agreement to include safeguards for MSMEs and farmers, says Piyush Goyal
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The free trade agreement (FTA) between India and the European Union (EU) will include safeguards for farmers and MSMEs, Union Minister for Commerce and Industry Piyush Goyal said on Friday after meeting EU Commissioner for Trade and Economic Security Maros Sefcovic in Brussels.
“During this dialogue, we deliberated across key areas of the proposed agreement. We reaffirmed our commitment to a rules-based trading framework and a modern economic partnership that safeguards the interests of farmers and MSMEs while integrating Indian industries into global supply chains,” Goyal wrote on a social media platform X.
The main objective of the meeting was to give strategic guidance to the negotiations team. “The primary objective of these interactions is to provide strategic guidance to the negotiating teams, resolve pending issues, and expedite the conclusion of a balanced and ambitious agreement,” an earlier official statement released on Tuesday (January 6) said.
India – EU FTA likely to be finalised by Jan end
According to reports, India and the European Union wanted to complete the deal by the end of this year. However, the talks will now continue into next year. A new effort to finalise the agreement is planned by January 26, when European Commission President Ursula von der Leyen is expected to visit New Delhi as the Republic Day chief guest.
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“The visit underscores the intensifying diplomatic and technical engagements between New Delhi and Brussels, signalling a decisive push towards concluding the India-EU Free Trade Agreement (FTA),” the statement said.
EU is India’s largest trading partner
The EU is India’s largest trading partner and an important investor. Trade in goods between the two sides increased strongly in the 2024–25 financial year. The proposed agreement is meant to go beyond a simple trade deal and build a broader partnership that reflects today’s economic needs.
Both sides are also expected to hold detailed discussions on the main parts of the agreement to reduce differences and clear pending issues.