Goyal ends Europe tour, pushes for timely implementation of India-EU FTA | Today’s news
Commerce and Industry Minister Piyush Goyal on Sunday concluded a five-day trip to Spain, Belgium, Finland and Estonia, during which India sought to deepen trade, investment and technology partnerships with European countries while advancing discussions on the implementation of the India-European Union Free Trade Agreement (FTA).
Accompanied by a high-level business delegation, Goyal held meetings with ministers, senior government officials, industry representatives and investors across all four countries from July 13 to 18. The visit focused on expanding bilateral trade and investment, strengthening technological cooperation, and enhancing mutual business engagement.
Read also | The Ministry of Finance promotes a quarterly dialogue between public sector banks
Spain
In Spain, Goyal proposed an annual meeting of the India-Spain Joint Commission with business participation and presented a “10×10×10” vision aimed at tenfold increase in bilateral trade, investment and tourism over the next decade.
The two countries also agreed to move forward with technical discussions on interoperability between India’s Unified Payments Interface (UPI) and Spain’s digital payments platform Bizum.
Both sides identified opportunities for cooperation in the automotive, pharmaceutical, chemical, textile, renewable energy, tourism and infrastructure sectors. Discussions also covered investment facilitation, mobility of professionals and joint investments in Latin America.
Goyal also welcomed the progress in the C-295 aircraft manufacturing program under the ‘Make in India’ initiative.
Read also | Finance Ministry asks PSs to speed up lending to JanSamarth and curb loan rejections
Belgium
During his visit to Brussels, he co-chaired the third ministerial meeting of the India-EU Trade and Technology Council (TTC), where both sides adopted the TTC Action Plan 2026-27. The European Union also approved 21 more Indian fishing facilities, bringing the total number of authorized Indian facilities to 625.
New Delhi raised issues related to the recognition of Indian ship recycling yards and proposed the launch of a dedicated dialogue between India and the EU on skills, education and talent mobility.
Goyal also met European Council President António Costa, European Trade Commissioner Maroš Šefčovič, Climate Commissioner Wopke Hoekstra, Agriculture Commissioner Christoph Hansen and European Parliament International Trade Committee Chairman Bernd Lang.
The talks focused on the early signing and implementation of the India-EU Free Trade Agreement, negotiations on the Investment Protection Agreement and the Agreement on Geographical Indications, cooperation on the Carbon Border Adjustment Mechanism (CBAM), regulatory simplification and better market access for Indian agricultural products, including Basmati rice.
India has also proposed setting up plug-and-play industrial clusters for Belgian companies and explored defense cooperation with Thales in areas such as anti-drone technology and electronic warfare.
Finland
In Finland, Goyal met Acting Prime Minister and Finance Minister Riikka Purra and Economy Minister Sakari Puisto to discuss expanding cooperation in artificial intelligence, 6G, quantum technologies, clean energy, circular economy, advanced manufacturing and innovation.
The minister also met executives from KONE and Nokia and encouraged them to expand manufacturing, research and development, exports and investments in digital infrastructure in India. He urged Finnish companies to use India as a manufacturing base to serve global markets.
Read also | Bharat Maritime Insurance Pool exceeds 550 policies, Sum Assured ₹ 40,000 crore
Estonia
Goyal concluded a visit to Estonia, the first ministerial-level visit from India since the opening of India’s residential embassy in Tallinn in 2021. The discussion with Foreign Minister Margus Tsahkna focused on cooperation in digital governance, fintech, UPI integration, e-residency, cyber security and emerging technologies.
Speaking at the India-Estonia Business Forum, Goyal urged businesses to expand cooperation in cyber security, blockchain, clean energy and green hydrogen, while Estonia reiterated its support for the early implementation of the India-EU Free Trade Agreement.
According to the Ministry of Commerce and Industry, the visit is expected to strengthen India’s economic engagement with Europe by promoting investment flows, technology partnerships, manufacturing collaborations and better market access for Indian exporters across forward-looking sectors.
