Goyal ends Europe tour, pushes early India-EU FTA implementation | Today News
Goyal ends Europe tour, pushes early India-EU FTA implementation
Goyal held meetings with ministers, senior government officials, industry leaders and investors across the four countries from 13 to 18 July.
The commerce and industry minister, Piyush Goyal, on Sunday concluded a five-day tour to Spain, Belgium, Finland and Estonia, during which India sought to deepen trade, investment and technology partnerships with the European countries while advancing discussions on the implementation of the India-European Union Free Trade Agreement (FTA).
Accompanied by a high-level business delegation, Goyal held meetings with ministers, senior government officials, industry leaders and investors across the four countries from 13 to 18 July. The visit focused on expanding bilateral trade and investment, strengthening technology cooperation and enhancing business-to-business engagement.
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Spain
In Spain, Goyal proposed an annual India-Spain Joint Commission meeting with business participation and unveiled a “10×10×10” vision aimed at increasing bilateral trade, investment and tourism tenfold over the next decade.
Both countries also agreed to move forward with technical discussions on interoperability between India’s Unified Payments Interface (UPI) and Spain’s Bizum digital payments platform.
The two sides identified opportunities for collaboration in the automotive, pharmaceutical, chemical, textile, renewable energy, tourism, and infrastructure sectors. Discussions also covered investment facilitation, mobility of professionals and joint investments in Latin America.
Goyal also welcomed progress in the C-295 aircraft manufacturing programme under the ‘Make in India’ initiative.
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Belgium
During his visit to Brussels, he co-chaired the third India-EU Trade and Technology Council (TTC) Ministerial Meeting, where both sides adopted the 2026-27 TTC Action Plan. The European Union also approved 21 additional Indian fishery establishments, taking the total number of authorized Indian establishments to 625.
New Delhi raised issues related to the recognition of Indian ship recycling yards and proposed launching a dedicated India-EU dialogue on skills, education and talent mobility.
Goyal also held meetings with European Council president António Costa, European commissioner for trade Maroš Šefčovič, climate commissioner Wopke Hoekstra, agriculture commissioner Christophe Hansen and European Parliament’s International Trade Committee chair Bernd Lange.
The discussions centred on the early signing and implementation of the India-EU FTA, negotiations on the Investment Protection Agreement and Geographical Indications Agreement, cooperation on the Carbon Border Adjustment Mechanism (CBAM), regulatory simplification and greater market access for Indian agricultural products, including Basmati rice.
India also proposed setting up plug-and-play industrial clusters for Belgian companies and explored defence cooperation with Thales in areas such as counter-drone technologies and electronic warfare.
Finland
In Finland, Goyal met Acting Prime Minister and finance minister Riikka Purra and economic affairs minister Sakari Puisto to discuss expanding cooperation in artificial intelligence, 6G, quantum technologies, clean energy, circular economy, advanced manufacturing and innovation.
The minister also met executives of KONE and Nokia, encouraging them to expand manufacturing, research and development, exports and digital infrastructure investments in India. He invited Finnish companies to use India as a manufacturing base for serving global markets.
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Estonia
Goyal concluded the visit in Estonia, marking the first ministerial-level visit from India since the opening of India’s resident embassy in Tallinn in 2021. Discussions with foreign minister Margus Tsahkna focused on cooperation in digital governance, fintech, UPI integration, e-residency, cybersecurity and emerging technologies.
Addressing the India-Estonia Business Forum, Goyal urged businesses to expand cooperation in cybersecurity, blockchain, clean energy and green hydrogen, while Estonia reiterated its support for the early implementation of the India-EU FTA.
According to the commerce and industry ministry, the visit is expected to strengthen India’s economic engagement with Europe by promoting investment flows, technology partnerships, manufacturing collaboration and improved market access for Indian exporters across future-oriented sectors.
About the Author
Harsh Kumar is a policy reporter at Mint (HT Media Group), where he covers the Ministry of Commerce and Industry along with key departments of the Ministry of Finance, including the Department of Economic Affairs (DEA) and the Department of Financial Services (DFS). With over five years of experience in business and economic journalism, he has developed strong expertise in tracking policy developments and their wider economic impact.<br><br>He has previously worked with Business Standard, Moneycontrol, and Outlook Money, where he reported extensively on banking, financial services, and the broader economy. Over the years, he has built a reputation for delivering accurate, insightful, and impactful stories, supported by a keen eye for detail and a consistent track record of breaking exclusive news.<br><br>An alumnus of Jamia Millia Islamia, Harsh closely follows regulatory changes and key economic trends shaping India’s financial and industrial landscape. His reporting aims to simplify complex policy issues for a wider audience while maintaining depth and credibility.<br><br>Outside of work, he enjoys tracking policy developments, finding scoops, and travelling, reflecting his curiosity about how economic decisions shape everyday life.
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