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India-EU working with sincerity, commitment to finalise balanced FTA: Goyal
Sep-15-2025

Union Minister of Commerce and Industry Piyush Goyal has said India and the European Union are working with sincerity and commitment to finalize a comprehensive and balanced Free Trade Agreement (FTA) that will benefit businesses and consumers on both sides. He noted that such an agreement cannot be a one-sided arrangement, as every negotiation involves a certain degree of give and take to ensure fairness and balance.

He said that it is important not to let the search for a perfect deal become the enemy of progress, and stressed that the direction in which the negotiations are moving is extremely positive. He expressed confidence that the possibilities being unlocked through this process are immense and will open up opportunities for trade, investment, technology transfer, and deeper economic engagement. The Minister said he is confident that a bold and forward-looking industry such as the automotive component sector, which has consistently demonstrated strength in earlier FTA negotiations, will find the provisions being crafted under the India-EU partnership to be attractive and full of potential. 

He expressed confidence that the automotive component sector, which has always lent strength in FTA negotiations, will find the arrangements being worked out between India and the EU attractive, exciting, and full of potential for businesses to grow, collaborate, innovate, and engage in research and development. Further, he underlined that the sector has consistently demonstrated resilience and foresight, not only by supporting India’s domestic manufacturing base but also by integrating with global value chains.

He said that the FTA will open new avenues for Indian manufacturers to partner with their European counterparts and with companies from other parts of the world, thereby encouraging joint ventures, technology partnerships, and collaborative innovation. He noted that India offers significant advantages in terms of cost competitiveness-be it in design, development, or R&D-and combined with the country’s skilled talent pool, this will make India an increasingly attractive hub for global automotive companies. He added that such partnerships will help bring down costs, enhance productivity, create jobs for Indian youth, and further position India as a leading centre for high-quality automotive component manufacturing.


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