Piyush Goyal pushes India-EU FTA during Europe tour
Accompanied by a high-level Indian business delegation, Goyal held meetings with ministers, senior government officials, industry leaders and investors across the four countries from July 13 to 18, projecting India as a global hub for manufacturing, innovation and exports.
20 Jul 2026 07:03 IST
GK NEWS SERVICE
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Union Commerce and Industry Minister Piyush Goyal has concluded a five-day tour of Spain, Belgium, Finland and Estonia, aimed at strengthening trade, investment and technology partnerships while building momentum for the early signing and implementation of the India-European Union Free Trade Agreement (FTA).
Accompanied by a high-level Indian business delegation, Goyal held meetings with ministers, senior government officials, industry leaders and investors across the four countries from July 13 to 18, projecting India as a global hub for manufacturing, innovation and exports.
The visit came in the wake of the successful conclusion of negotiations on the India-EU FTA, with a key focus on accelerating its signing and implementation to boost bilateral trade, investment and market access.
In Spain, Goyal held talks with First Vice-President and Minister of Economy, Trade and Business Carlos Cuerpo Caballero and Industry and Tourism Minister Jordi Hereu Boher. Both sides agreed to advance technical discussions on interoperability between India’s Unified Payments Interface (UPI) and Spain’s Bizum digital payments platform to strengthen digital financial connectivity.
The two countries also explored collaboration in automobiles, pharmaceuticals, chemicals, textiles, renewable energy, tourism and infrastructure. Spain proposed establishing a dedicated “India Team” to facilitate business engagement, while Goyal suggested holding annual India-Spain Joint Commission meetings with industry participation.
Addressing the India-Spain Business Forum, Goyal unveiled a “10×10×10” vision to increase bilateral trade, investment and tourism tenfold over the next decade by leveraging opportunities created by the India-EU FTA.
In Brussels, Goyal co-chaired the third India-EU Trade and Technology Council Ministerial Meeting, where the two sides adopted the 2026-27 Action Plan and reaffirmed their commitment to the early implementation of the FTA.
The discussions covered investment protection, geographical indications, cooperation on the European Union’s Carbon Border Adjustment Mechanism (CBAM), regulatory simplification and improved market access for Indian agricultural exports, including Basmati rice. India also sought recognition of its ship recycling yards and proposed a new dialogue on skills, education and talent mobility.
During his visit to Belgium, Goyal met European Council President António Costa, European Commissioner for Trade Maros sefovi and other senior EU leaders to advance trade and investment negotiations. He also proposed dedicated industrial clusters for Belgian companies in India and explored defence technology collaboration with Thales.
In Finland, discussions centred on emerging technologies such as artificial intelligence, 6G, quantum computing, clean energy and advanced manufacturing. Meetings with Acting Prime Minister and Finance Minister Riikka Purra and Economic Affairs Minister Sakari Puisto highlighted opportunities to combine India’s manufacturing scale and skilled workforce with Finland’s technological expertise.
Goyal invited companies including KONE and Nokia to expand manufacturing, research and development, exports and digital infrastructure investments in India, positioning the country as a production base for global markets.
The minister concluded his tour in Estonia, marking the first ministerial-level visit from India since the opening of the Indian Embassy in Tallinn in 2021. Discussions focused on digital governance, fintech, cybersecurity, e-residency and integration of India’s UPI with Estonia’s digital ecosystem.
Speaking at the India-Estonia Business Forum, Goyal encouraged collaboration in cybersecurity, blockchain, clean energy and green hydrogen. Estonia reiterated its support for the early implementation of the India-EU FTA and invited India to participate in the Estonia Digital Summit.
