EU Trade Commissioner, Maros Sefcovic, is currently in Delhi at the helm of a delegation consisting of high-ranking officials such as DG Trade Sabine Weyand and EU's chief negotiator Christophe Kiener.
The purpose of this visit is to make a final concentrated effort this year towards advancing the India-EU Free Trade Agreement negotiations, primarily focusing on resolving any remaining obstacles.
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“In India for a two-day marathon of meetings with (Commerce Minister) PiyushGoyal to advance our trade and investment negotiations. EU-India ties are growing fast - as they should between partners. But we’ve only scratched the surface. A commercially meaningful FTA would unlock enormous potential,” Sefcovic posted on social media platform X`.
“Continued, steady engagement on both sides remains essential to reinforce momentum and deliver results from our trade and investment talks - supporting our overall partnership,” Sefcovic noted after his meeting with Jaishankar.
India and the EU are optimistic about finalizing negotiations by the end of December, although there are still challenging issues to address such as market access for European automobiles, EU import quotas on steel, the bloc's standards and compliance requirements including the carbon tax mechanism (CBAM), and Delhi's concerns on mobility.
Later in the day, the EU Trade Commissioner also had a meeting with the Minister of External Affairs, S Jaishankar.
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Both parties are eager to officially announce the India-EU Free Trade Agreement during the upcoming India-EU Summit in New Delhi, likely scheduled for January 27, and anticipated to be attended by Prime Minister Narendra Modi along with the leadership of the European Union, according to reports.
According to official figures, India's trade in goods with the European Union reached a value of $136.53 billion in the fiscal year 2024-25, with exports totaling $75.85 billion and imports totaling $60.68 billion. This data indicates that India holds the position of being the primary trading partner for goods with the EU.
India's Commerce and Industry Minister Piyush Goyal recently engaged in discussions with EU's Trade Commissioner Maroš Šefčovič in New Delhi. The focus of their meeting was to assess the advancements made in the India-EU trade negotiations and to address any outstanding concerns.
A delegation of trade negotiators from the European Union engaged in discussions with the Indian Minister today, with plans to reconvene on Tuesday for further talks following the conclusion of 14 rounds of negotiations.
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The EU's Ambassador to India, Herve Delphin, characterized the ongoing negotiations as a distinct and innovative stage, dubbing them as the "EU-India FTA negotiation 2.0." After the 14th round of discussions, the Commerce Ministry of India characterized the following talks as the final and most challenging stage of their ongoing trade negotiations.