What happened?
India’s Commerce and Industry Minister, Piyush Goyal, met with Maroš Šefčovič, European Commissioner for Trade and Economic Security, for a High-Level Dialogue from 18-19 January 2025 in Brussels. Minister Goyal outlined six principles to strengthen the India-EU partnership: focusing on shared values, equitable trade, harmonised standards, resilient supply chains, sustainable development, and leveraging India’s technological potential.
Why it matters to India
The visit of India’s Commerce and Industry Minister to the EU is significant in the context of ongoing India-EU FTA negotiations. Both sides emphasised creating a robust Free Trade Agreement (FTA) and addressing pending trade issues. They directed their negotiating teams to expedite consultations and review progress under the India-EU Trade and Technology Council. Bilateral trade between India and the EU accounted for over USD 180 billion in 2023-24, and the EU remains a major source of Foreign Direct Investment into India, contributing USD 117.34 billion.