Piyush Goyal meets with the EU delegation to discuss Free Trade Agreement negotiations ahead of the scheduled 10th round in Brussels. He will also visit the U.S. for bilateral trade talks. India simultaneously engages with the U.K. for trade deal negotiations, highlighting its strategic importance in global trade relations.
Commerce Minister Piyush Goyal held discussions with an EU delegation in Mumbai regarding the proposed Free Trade Agreement (FTA) ahead of the upcoming 10th round of talks scheduled for March 10-14 in Brussels. This meeting is part of India’s broader trade negotiations with developed economies to strengthen global trade relations, as stated by officials.
During the meeting with EU Trade Commissioner Maros Sefcovic, Goyal emphasized the aim of achieving a balanced and mutually beneficial FTA, enhancing economic ties between India and the EU. Goyal subsequently shared on X about the productive nature of the talks, indicating a focus on substantial market access covering goods, services, and investments.
In addition to EU discussions, Goyal is set to embark on a week-long trip to the U.S., where he will engage in bilateral talks aimed at laying the groundwork for a multi-sector Bilateral Trade Agreement (BTA). These discussions could potentially mark the beginning of formal negotiations covering various industrial and agricultural sectors, supporting a $500 billion trade roadmap.
Meetings with U.S. officials, including U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick, will facilitate discussions on tariff concessions and energy imports. Officials highlight the increasing global interest in comprehensive trade deals with India, enhanced by its rapid economic growth and strategic global position.
Currently, trade talks are ongoing with three major economies: the U.K., EU, and U.S. All are aiming to conclude significant deals by the end of the fiscal year. Past discussions for a mini-trade deal between India and the U.S. were previously halted, but ongoing negotiations reflect renewed commitment from all parties to achieve beneficial agreements as international trade dynamics evolve.
In summary, India’s Commerce Minister Piyush Goyal is actively negotiating FTAs with developed economies, including significant discussions with the EU regarding a balanced agreement. His upcoming visit to the U.S. signals further intentions to establish a multi-sector Bilateral Trade Agreement. The emphasis on trade negotiations with the U.K., EU, and U.S. underlines India’s strategic economic importance on the global stage, aiming for substantial economic partnerships by fiscal year-end.
Original Source: www.hindustantimes.com
