India and EU Reaffirm Commitment to Finalize Ambitious Free Trade Agreement by End-2025, Consolidate Strategic Relations

India and the European Union have renewed their mutual resolve to finalize a robust Free Trade Agreement (FTA) by 2025 end, a strong milestone in forging an enhanced strategic and economic alliance. Union Minister for Commerce and Industry Piyush Goyal and EU Trade and Economic Security Commissioner Maros Sefcovic met in Brussels, referring to their interaction as extremely fruitful and aimed at restructuring the India-EU alliance of the future.

 

Both sides underlined the imperative role of investment flows and people-to-people exchanges in perpetuating economic vibrancy, appreciating that strong trade and active talent exchanges are the keys to sustained long-term growth. FTA negotiations spanning a wide range of goods, services, investment, and regulatory cooperation are considered revolutionary for market access and supply chain resilience.

 

India and the EU reaffirmed their commitment to resolving all outstanding issues with mutual respect and pragmatism, making the agreement balanced and result-oriented. The second round of negotiations will take place in mid-May in New Delhi, where the negotiators will work towards finding solutions to outstanding issues. The FTA, once finalized, is likely to open up significant opportunities for exporters, investors, and workers, further solidifying the India-EU relationship as a cornerstone of global economic stability.

 

Source: Economic Times