14 hrs ago
India-EU Trade Deal Nears Signing After 17 Years
India and the European Union have finished negotiating a trade agreement.
The agreement is intended to create more opportunities for trade and investment.
India’s minister Piyush Goyal discussed the deal with European Commissioner Maros Sefcovic.
They met in Milwaukee during a meeting of G20 trade ministers.
They checked the remaining steps before the agreement can be signed and take effect.
They also discussed cooperation on technology and changes to global trade rules.
The negotiations began in 2007, stopped for a long time and restarted in 2022.
Indian officials said technology transfers, local manufacturing and artificial intelligence could help Indian businesses grow.
Piyush Goyal met European Commissioner Maros Sefcovic in Milwaukee during the G20 Trade Ministers’ Meeting.
They reviewed progress toward signing and bringing the India-EU free trade agreement into force.
The officials also discussed the India-EU Trade and Technology Council, World Trade Organization reform and shared G20 priorities.
India and the European Union concluded FTA negotiations on January 27 after talks began in 2007 and resumed in 2022.
The European Commission submitted the agreement to the EU Council for authorisation to sign and conclude it.
- Who
- Union Commerce and Industry Minister Piyush Goyal and European Commissioner for Trade and Economic Security Maros Sefcovic.
- What
- They reviewed progress toward signing and implementing the India-EU free trade agreement and discussed trade, technology and G20 issues.
- Where
- Milwaukee, on the sidelines of the G20 Trade Ministers’ Meeting.
- When
- Thursday, identified in one report as October 1, 2026; negotiations concluded on January 27 after talks began in 2007 and resumed in 2022.
- Why
- To assess the agreement’s progress and exchange views on the Trade and Technology Council, World Trade Organization reform and shared G20 priorities.
India and developing-country priorities
U.S.-stated trade priorities
Global trade rules
India and developing-country priorities
India said it supports a rules-based, open, inclusive, transparent and non-discriminatory multilateral trading system centered on the World Trade Organization, while seeking adequate policy space for developing countries.
U.S.-stated trade priorities
U.S. Trade Representative Jamieson Greer said the unconditional application of the World Trade Organization’s Most-Favoured-Nation principle should be re-examined because it may limit responses to distortive policies and changing market conditions.
Food and trade measures
India and developing-country priorities
Piyush Goyal said food should remain a source of security, stability and cooperation, and that food-supply-chain weaponisation should be distinguished from legitimate domestic policy and food-security measures.
U.S.-stated trade priorities
The United States placed the weaponisation of food, excess industrial capacity, the Most-Favoured-Nation principle and forced labour in supply chains among its G20 trade priorities.
Key facts
- Meeting participants
- Piyush Goyal and European Commissioner Maros Sefcovic
- Meeting location
- Milwaukee
- FTA negotiations concluded
- January 27
- Negotiation history
- Talks began in 2007, stalled for a prolonged period and were relaunched in 2022
- Current procedural step
- The European Commission submitted the agreement to the EU Council for authorisation for signature and conclusion
- Additional discussion topics
- The India-EU Trade and Technology Council, World Trade Organization reform and shared G20 priorities
- Industrial priorities cited
- Technology transfers, domestic manufacturing, artificial intelligence and improved product quality
Quotes
Jitin Prasada
India’s Minister of State for Commerce and Industry
“Wider technological adoption and artificial intelligence integration would substantially enhance workplace productivity and lower operating expenditures, particularly for micro, small, and medium enterprises (MSMEs).”
financialexpress.com
“Reviewed progress towards the signing and entry into force of the India-EU FTA. Also exchanged views on progress under the India-EU Trade and Technology Council, meaningful WTO reform and shared G20 priorities.”
financialexpress.com
thehansindia.com
Jamieson Greer
US Trade Representative
“Well, every country will do what they think is appropriate. We want to coordinate those measures. The United States has taken robust measures, and it probably makes sense for other countries to do that too.”
financialexpress.com
Sources
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