India has highlighted the challenges faced by its domestic industries in accessing European Union (EU) markets and urged for their resolution. This issue was discussed during a virtual meeting between India’s Minister of Commerce and Industry, Piyush Goyal, and EU Commissioner for Trade and Economic Security, Maroš Šefčovič. The Ministry of Commerce shared details of this significant meeting on Friday.
The discussion focused on the progress of the India-EU Free Trade Agreement (FTA), trade and investment issues, and high-level cooperation. According to the ministry, both sides agreed to explore ways to ensure economic prosperity and generate greater wealth for nearly 2 billion people. This meeting marked the first interaction between the two leaders following the formation of the new European Commission.
The primary objective of the meeting was to address non-tariff barriers affecting trade between India and the EU. Piyush Goyal emphasized the need to resolve long-standing issues as a confidence-building measure and highlighted how removing these barriers could boost trade and strengthen economic relations between the two sides.
Both leaders agreed to work toward a mutually beneficial, ambitious, balanced, and equitable FTA. The meeting also covered discussions on the India-EU Trade and Technology Council and other high-level engagements. Senior officials from both sides participated in the meeting, signaling deep trade and technological collaboration between India and the EU.
Piyush Goyal congratulated Maroš Šefčovič on his new role as EU Commissioner for Trade and expressed confidence in jointly developing a new strategic India-EU agenda. He reiterated India’s commitment to building a robust trade partnership with the EU.
This meeting proved to be a significant step toward resolving trade and economic security issues between India and the EU. It not only aims to strengthen economic relations between the two sides but also sends a positive message for global trade collaboration
