Visit to underline India’s commitment to trade and investment ties with European Union

Union Minister of Commerce and Industry, Shri Piyush Goyal will visit Brussels, Belgium for a High-Level Dialogue with Mr Maroš Šefčovič, Commissioner of the European Commission for Trade and Economic Security from 18-20 January 2025. This visit underlines the importance that India attaches to its trade and investment ties with the European Union (EU), one of our largest trading partners with bilateral trade estimated at over US$180 billion in 2023-2024. At the same time, the EU is also a significant source of Foreign Direct Investment, with total FDI estimated at US$ 117.34 billion.

During the visit, the two leaders are expected to hold wide ranging discussions on India-European Union (EU) Free Trade Agreement (FTA) negotiations, undertake a stock take of the Trade and Technology Council framework and take up bilateral trade matters. The leaders are expected to discuss the global economic situation amidst trade disruptions, give political directions to expedite the FTA negotiations and explore a commercially significant, balanced, equitable, ambitious and mutually beneficial FTA. 

On the sidelines, the Minister is also expected to meet Dr Ngozi Okonzo-Iweala, Director General of World Trade Organisation, Mr Bernard Quintin, Minister of Foreign Affairs, European Affairs and Foreign Trade of Belgium apart from holding interactions with representatives of Belgian industry and Indian community.

Free Trade Agreement negotiations: political push to expedite a balanced and mutually beneficial India-EU FTA. India-EU Free Trade Agreement negotiations are the focal engagement during a high-level visit to Brussels to provide political direction to expedite an FTA that is commercially significant, balanced, equitable and mutually beneficial, while taking stock of negotiation progress and addressing trade disruptions. The visit also reviews the Trade and Technology Council framework, considers economic security and bilateral trade matters, and pursues facilitation of Foreign Direct Investment alongside industry and multilateral engagement.