New Delhi: With export diversification at the top of India’s trade agenda, the Minister of Trade and Industry, Piyush Goyal, will push on a three-Nations tour in October Starting-Esingapore, Qatar and South Africa-Om Indian goods and also promote the long-standing discussions on the long-term Indian-European Union (EU) Union Senior government officials said. Goyal travels to Singapore in the first week of the month, followed by Qatar, and then South Africa for the G20 trading minister meeting. The minister is expected to meet EU’s commercial commissioner Maroš šefčovič to continue the discussions on the FTA, the first official cited above. The pressure on the diplomatic front came when India’s negotiating team prepared to travel to Brussels from October 6 to October 10 for the next round of talks on the FTA. The officials said the Brussels round will focus on closing the gaps in tariff schedules and access to services, as both sides are aimed at closing the treaty this year. The agreement is expected to give Indian exporters greater access to the European market, while opportunities for EU businesses in India’s rapidly growing economy open. In June 2022, India and the EU resumed after almost a decade -long break, trying to form both parties as a ‘comprehensive and balanced’ agreement. According to the Ministry of Ministry, the export of India after the 27-Nation block was at $ 83.79 billion, imports at $ 84.44 billion, and total bilateral trade at $ 168.23 billion in FY25. In FY24, the numbers were higher, with $ 85.90 billion export, imports of $ 87.35 billion in FY24, and total trade at $ 173.25 billion. For India, the acquisition of deeper access for textiles, learning, engineering goods and agricultural exports is an important priority, while the EU has sought tariff reductions for its wines, spirits, cars and machinery by high value. “With the US market becoming more unpredictable and Asian supply chains undergoing stress, the EU agreement India offers the chance to consolidate its position in one of the largest and most stable consumer markets,” said Bishajit Dhar, a former professor at Jawaharlal Nehru University. “The treaty will also seek to facilitate procedural barriers facing exporters and importers on both sides. India has strongly pressed for greater mobility of professionals in IT, nursing and other competent sectors, arguing that services should gain equal weight along with goods,” the second official cited above. The EU insisted on sustainability-linked obligations, including labor and environmental standards under its Green Deal framework. Mint reported on September 8 that the government had planned a series of ministerial visits to reliable trading partner countries, including Singapore. Singapore has already shown interest in importing Indian eggs and poultry, and discussions are underway to allow Indian fish. The ongoing geopolitical tension and US tariff -related disruptions in supply chains have added a moment of negotiations on free trade agreements. In the midst of global trade adjustments, both India and the EU are eager to isolate their economies with reliable partnerships. In the midst of its hurdle-disabled discussions for a bilateral trade treaty with the US, for India, an agreement with the EU may be an indication of the ability to finalize ambitious trade agreements following recent successes with the United Arab Emirates and Australia.
Goyal takes overseas visits to push exports, to lift the EU FTA conversations
