New Delhi, Oct 28 (PTI) The negotiating teams of India and the European Union are making good progress on tariff-related issues and an EU delegation will visit here next week to further iron out differences for an early conclusion of the proposed free trade agreement (FTA), according to officials.

Commerce and Industry Minister Piyush Goyal was in Brussels to hold discussions with EU Commissioner for Trade and Economic Security Maros Sefcovic and give an impetus to the negotiations. His official team accompanied Goyal.

Addressing the media in Brussels after the talks, Sefcovic said that European Commission Director General for Trade Sabine Weyand will visit New Delhi next week with a view to concluding the technical tariff negotiations.

"I very much appreciate that we engage in full transparency and trust, and we've been able, with this spirit, to also catch up on the more sensitive issues, even though, of course, further work is required, and I am glad to report that we've been able to progress substantially across a number of areas.

"On industrial tariffs. We have given concrete guidance to our team," he said.

Sefcovic added that beyond the area of tariffs, both sides have made good progress on measures that will further facilitate bilateral trade and investment between India and the European Union.

Goyal said that the three-day talks have significantly reduced the outstanding issues.

In a free trade agreement, two countries or regions either significantly reduce or eliminate tariffs on the maximum number of goods traded between them. They also ease norms to promote trade in services and attract investments.

"We look forward to the European Union team coming next week. And I too look forward to meeting my good friend and brother, Maros Sefcovic in the next two or three weeks, very soon," Goyal said.

He added that a robust and balanced agreement will support businesses in Europe and in India.

"I believe the ongoing India EU FTA negotiations has given us an opportunity to really create the framework which will help us, in the long run, bring our two economies closer together, integrate them into a relationship which will be a win, win for the European Union and for India," he said.

Engagements between the two sides have increased as they have decided to conclude negotiations by December.

Goyal's visit follows the conclusion of the 14th round of talks between the two sides from October 6-10.

Commerce Secretary Rajesh Agrawal has also held talks with European Commission (EC) Director General for Trade (DG-Trade) Sabine Weyand in Brussels.

In June 2022, India and the EU bloc resumed negotiations for a comprehensive FTA, an investment protection agreement and a pact on geographical indications after a gap of over eight years. It was stalled in 2013 due to differences on the level of opening up markets.

India's bilateral trade in goods with the EU was USD 136.53 billion in 2024-25 (exports worth USD 75.85 billion and imports worth USD 60.68 billion), making it the largest trading partner for goods.

The EU market accounts for about 17 per cent of India's total exports, and the bloc's exports to India constitute 9 per cent of its total overseas shipments.

Besides demanding significant duty cuts in automobiles and medical devices, the EU wants tax reduction in other products like wine, spirits, meat, poultry, and a strong intellectual property regime.

Indian goods' exports to the EU, such as readymade garments, pharmaceuticals, steel, petroleum products, and electrical machinery, can become more competitive if the pact sails through.

The India-EU trade pact negotiations cover 23 policy areas or chapters, including trade in goods, services, investment, trade remedies, rules of origin, customs and trade facilitation, competition, government procurement, dispute settlement, intellectual property rights, geographical indications, and sustainable development. PTI RR MR

Free trade agreement talks progress on tariffs, with technical visits planned to finalize tariff and market access details. Negotiations between India and the European Union on a proposed free trade agreement have advanced on tariff issues and will continue via an EU director's visit to New Delhi to conclude technical tariff talks. The talks address a broad set of chapters including trade in goods, services and investment, rules of origin, customs and trade facilitation, dispute settlement, intellectual property rights, and geographical indications, with both sides pursuing tariff reductions, sectoral market access and non tariff facilitation measures to enhance bilateral trade and investment.