India and EU agree to draw up mutually beneficial FTA

New Delhi, Jan 20 (Prensa Latina) India and the European Union (EU) agreed to draw up a meaningful trade agenda and work towards a mutually beneficial Free Trade Agreement (FTA), officials from the South Asian nation stressed on Monday.

January 20, 2025
10:12

The issue resulted from a meeting between Commerce and Industry Minister Piyush Goyal and European Commissioner for Trade and Economic Security Maros Sefcovic held in Brussels, the capital of Belgium, over the weekend.

The official source noted that the meeting aimed to establish a new framework for the strategic agenda between India and the EU in trade and investment.

In this context, Goyal underscored his Government’s commitment to transform India into a developed country by 2047.

Among the principles of a bilateral relationship, he mentioned working as a trusted partner to develop an economic relationship that integrates the combined market, currently estimated at over 24 trillion dollars.

Goyal and Sefcovic outlined policy directions for experts from both sides to develop a mutually beneficial agenda expeditiously for trade and investment and a strong FTA to meet global challenges.

ef/iff/mem/lrd