metro india news  I hyderabad

A high-level European Union delegation will meet Commerce and Industry Minister Piyush Goyal on Monday to review progress on the proposed India-EU Free Trade Agreement (FTA), an official said.

The meeting is expected to play a key role as both sides aim to wrap up negotiations by the end of the year. The EU team, led by Sabine Weyand, Director-General for Trade, is in New Delhi to bridge gaps on several contentious issues in goods and services.

According to officials, differences remain on steel, the EU’s carbon tax mechanism, automobile duties, and various non-tariff barriers. Despite these hurdles, negotiators on both sides are keen to accelerate discussions to meet the deadline.

Talks for a comprehensive FTA, including an investment protection pact and a separate agreement on geographical indications, were revived in June 2022 after being stalled for nearly a decade. Negotiations had broken down in 2013 over disagreements on market access.

India’s trade relationship with the EU has grown significantly in recent years. Bilateral goods trade touched USD 136.53 billion in 2024-25, with Indian exports at USD 75.85 billion and imports at USD 60.68 billion. The EU is India’s largest trading partner for goods and accounts for nearly 17 per cent of India’s exports.

The EU is pushing for deeper duty cuts on automobiles, medical devices, wine, spirits, meat and poultry, along with stronger intellectual property protection. India, in turn, expects the agreement to boost exports of textiles, pharmaceuticals, steel, petroleum products and electrical machinery by enhancing market competitiveness.

The ongoing negotiations span 23 policy chapters including goods, services, investment, customs, rules of origin, government procurement, dispute settlement, intellectual property rights and geographical indications.