Union Minister Piyush Goyal visited Spain, Belgium, Finland and Estonia. India and EU committed to early signing of Free Trade Agreement (FTA). The purpose of the visit was to strengthen economic partnership, investment and technical cooperation with Europe.
New Delhi [भारत]July 19 (ANI): Union Commerce and Industry Minister Piyush Goyal concluded his five-day visit to Spain, Belgium, Finland and Estonia. According to a release issued by the Ministry of Commerce and Industry on Sunday, during the visit, India and the EU reiterated their commitment to early sign and implement the proposed Free Trade Agreement (FTA).
The ministry said the visit, which took place from July 13 to 18, was aimed at deepening India’s economic partnership with Europe, expanding investment ties and strengthening technical cooperation.
Important meetings and agreements in Brussels
Referring to Goyal’s meetings in Brussels with European Council President Antonio Costa, European Commissioner for Trade Maros Sefcovic and other senior EU leaders, the ministry said, “Both sides reaffirmed their commitment to work towards the early signing and implementation of the India-EU FTA.” The release said the discussions also included issues such as negotiations on Investment Protection Agreement and Geographical Indication Agreement, cooperation on Carbon Border Adjustment Mechanism (CBAM), regulatory simplification, market access for agricultural products, and duty exemption for Basmati rice and steel scrap.
During the Brussels visit, Goyal co-chaired the 3rd India-EU Trade and Technology Council (TTC) Ministerial Meeting and welcomed the adoption of the TTC Action Plan for 2026-27. The ministry said India also proposed to launch an India-EU dialogue on skills, education and talent mobility and raised the issue of listing Indian ship recycling yards.
Emphasis on increasing bilateral trade with Spain
In Spain, Goyal proposed an annual India-Spain Joint Commission meeting on business partnerships and unveiled a “10x10x10” vision to increase bilateral trade, investment and tourism tenfold over the next decade. The two sides also agreed to advance technical discussions on interoperability between India’s Unified Payments Interface (UPI) and Spain’s Bizum digital payments platform, as well as identify opportunities in automobiles, pharmaceuticals, renewable energy, tourism and infrastructure.
Finland invited to invest in India
In Finland, Goyal invited companies to expand investment in manufacturing, research and development, exports and digital infrastructure in India. “India’s scale and talent, coupled with Finland’s technological capabilities, offer significant opportunities for co-development and co-creation,” the ministry said.
Discuss digital cooperation with Estonia
The Minister concluded his visit in Estonia, where both sides explored collaboration in digital governance, fintech, UPI integration, cyber security and emerging technologies. According to the ministry, Estonia also expressed strong support for the early implementation of the India-EU FTA.
Economic relations with Europe get new momentum
“The visit has provided a new impetus to India’s growing economic engagement with Europe,” the ministry said. He also said that the agreements reached are expected to strengthen technology partnerships, boost investment flows, improve market access for Indian exporters and expand cooperation in future-oriented areas. (ANI)
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