On the side lines of the first Ministerial meeting of India-European Union Trade and Technology Council (TTC), Union Minister for Commerce & Industry, Textiles, Consumer Affairs, Food & Public Distribution, Shri Piyush Goyal had bilateral meeting with the Executive Vice-President of the European Commission responsible for an Economy that Works for People, and the European Commissioner for Trade, Mr. Valdis Dombrovskis. The meeting was also attended by senior officials from both sides.

During the bilateral discussions the leaders recalled the long-standing partnership between the two sides and underlined the need to work together to deepen the association given their commitment to democracy and rule-based international systems. They emphasised the need for expediting the ongoing FTA negotiations by finding convergence on all issues after due consideration to mutual sensitivities including on market access for balanced and meaningful outcomes that would support the economies and employment on both sides.

Both sides also affirmed their commitment to work together on common priorities for WTO related issues. Both sides recognised the need for consensus-based solutions including Permanent Solution on Public Stock Holding that would support the livelihoods and food security for millions in India as well as in large parts of the developing world. They expressed hope that their joint efforts would enable finding meaningful solutions in the upcoming WTO Ministerial Conference.

This meeting was followed by meeting of the Working Group 3 Stakeholders co-chaired by Shri Piyush Goyal and Mr. Valdis Dombrovskis. The meeting included stakeholders representing India and the EU. Working Group 3 focuses on Trade, Investment and resilient supply chains. The EU side had representatives from major European industrial bodies including Business Europe, Digital Europe, Food Drinks Europe, Copa-Cogeca, EFPIA and ACEA. The delegation of Indian business leaders attending the meeting in person represented sectors including Chemicals, metals, textiles, digital infrastructure, and steel while representatives of other sectors like agri-food industry, marine/logistics were present in virtual mode.

FTA negotiations urged to find convergence on market access for balanced trade outcomes and stronger employment support. Discussions prioritized advancing Free Trade Agreement negotiations by finding convergence on market access and mutual sensitivities for balanced outcomes, and affirmed cooperative WTO engagement seeking consensus solutions including a Permanent Solution on Public Stock Holding; these exchanges were followed by a Working Group 3 stakeholder meeting addressing trade, investment and resilient supply chains with industry representatives from both sides.