New Delhi: India and the European Union (EU) have concluded negotiations on 10 out of 20 chapters of the proposed free trade agreement (FTA), while another 4-5 chapters have been settled in principle, commerce and industry minister Piyush Goyal said Wednesday.
Trade negotiators of the two sides will meet next week to iron out sensitive issues, including trade barriers on steel and automobiles. They aim to conclude the FTA negotiations by December.
Goyal said India expects a further breakthrough when the EU trade commissioner visits India in late November and that both sides were moving ahead "recognising mutual sensitivities and strengths" as they work to bridge gaps in the remaining areas of the pact.
The minister was on a visit to Brussels from October 26 to 28 where he met European commissioner for trade and economic security MaroS Šefcovic on the proposed India-EU FTA.
"We have made significant progress in this three-day discussion...We have agreed to close 10 out of 20 chapters, another four or five chapters have in principle been broadly decided and on more and more issues, we are leading towards convergence," Goyal told reporters.
His visit follows the conclusion of the 14th round of talks between the two sides from October 6 to 10.
"We are working towards a fair, equitable and balanced free trade agreement, recognizing mutual sensitivities and strengths and working in a spirit of partnership to promote trade, investments, technology flow mobility," he said, adding that mobility is required for provision of services of certain type, not necessarily all.
The commerce and industry ministry said both sides agreed to work closely to finalise the non-sensitive industrial tariff lines.
"They also agreed that issues related to steel, auto, CBAM and other EU regulations still require further discussion, as these issues have higher sensitivities," it said in a statement.
On this, the minister said: "They might have called out these four... Obviously, there are many others, but at different stages of progress, which seems to be in the right direction".
India has also pitched for ensuring redressal of both tariff and non-tariff barriers in the pact, besides creating transparent and predictable regulatory frameworks to boost bilateral trade, according to the ministry.
India-EU trade in goods was $136.53 billion in FY25.
On the December deadline for the FTA negotiations conclusion, he said there are no deadlines, and this could be done "in November, January, six months or never".
India and the EU are holding separate negotiations for an investment protection agreement and an agreement on geographical indications.
New Zealand pact
Goyal also said he will visit New Zealand next week to hold discussions on the proposed FTA between the two countries.
The FTA was formally launched on March 16, 2025. "We are going to New Zealand next week to try and conclude substantially close negotiations for a free trade agreement," he said.
The third round of negotiations for the India-New Zealand FTA concluded on September 19 in Queenstown, New Zealand.
Supply chains
Earlier at an event, Goyal said it is important for the country to have resilient supply chains, control over key technologies and reduce overdependence on certain geographies. "This decade, in fact, has given us several wake up calls, starting from Covid, how important it is to have resilient supply chains, to have your own technologies, control over technologies, control over essential supplies in critical areas," he said at a TiEcon event, adding that reducing dependence on foreign technologies, weapons, energy sources and critical technologies is important for the country's growth.
Trade negotiators of the two sides will meet next week to iron out sensitive issues, including trade barriers on steel and automobiles. They aim to conclude the FTA negotiations by December.
Goyal said India expects a further breakthrough when the EU trade commissioner visits India in late November and that both sides were moving ahead "recognising mutual sensitivities and strengths" as they work to bridge gaps in the remaining areas of the pact.
The minister was on a visit to Brussels from October 26 to 28 where he met European commissioner for trade and economic security MaroS Šefcovic on the proposed India-EU FTA.
"We have made significant progress in this three-day discussion...We have agreed to close 10 out of 20 chapters, another four or five chapters have in principle been broadly decided and on more and more issues, we are leading towards convergence," Goyal told reporters.
His visit follows the conclusion of the 14th round of talks between the two sides from October 6 to 10.
"We are working towards a fair, equitable and balanced free trade agreement, recognizing mutual sensitivities and strengths and working in a spirit of partnership to promote trade, investments, technology flow mobility," he said, adding that mobility is required for provision of services of certain type, not necessarily all.
The commerce and industry ministry said both sides agreed to work closely to finalise the non-sensitive industrial tariff lines.
"They also agreed that issues related to steel, auto, CBAM and other EU regulations still require further discussion, as these issues have higher sensitivities," it said in a statement.
On this, the minister said: "They might have called out these four... Obviously, there are many others, but at different stages of progress, which seems to be in the right direction".
India has also pitched for ensuring redressal of both tariff and non-tariff barriers in the pact, besides creating transparent and predictable regulatory frameworks to boost bilateral trade, according to the ministry.
India-EU trade in goods was $136.53 billion in FY25.
On the December deadline for the FTA negotiations conclusion, he said there are no deadlines, and this could be done "in November, January, six months or never".
India and the EU are holding separate negotiations for an investment protection agreement and an agreement on geographical indications.
New Zealand pact
Goyal also said he will visit New Zealand next week to hold discussions on the proposed FTA between the two countries.
The FTA was formally launched on March 16, 2025. "We are going to New Zealand next week to try and conclude substantially close negotiations for a free trade agreement," he said.
The third round of negotiations for the India-New Zealand FTA concluded on September 19 in Queenstown, New Zealand.
Supply chains
Earlier at an event, Goyal said it is important for the country to have resilient supply chains, control over key technologies and reduce overdependence on certain geographies. "This decade, in fact, has given us several wake up calls, starting from Covid, how important it is to have resilient supply chains, to have your own technologies, control over technologies, control over essential supplies in critical areas," he said at a TiEcon event, adding that reducing dependence on foreign technologies, weapons, energy sources and critical technologies is important for the country's growth.
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