Sealing the Deal! India-EU FTA Moves Closer to Completion by Year-End

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India's Foreign Minister has assured that talks on the India-European Union Free Trade Agreement (FTA) are going on at a fast pace, with over half of the job done. The target is still to close the deal by the end of 2025, a milestone in India-EU trade relations.

1. Progress & Key Developments

Three top-level meetings have occurred within the past 35 days between India's Commerce Minister Piyush Goyal and EU Trade Commissioner Maros Sefcovic.
The talks have centered on lowering trade barriers, improving market access, and deepening economic cooperation.
The agreement aims to boost bilateral trade, which currently stands at $15 billion between India and Italy alone.

2. Strategic Significance of the FTA

The India-EU FTA is likely to enhance exports, foreign investment, and new employment opportunities.
The agreement is in line with India's overall trade policy, after recent deals with EFTA and the UK.
The EU considers India a strategic partner in international trade, with a focus on free trade rather than protectionism.

3. Next Steps & Expected Timeline

The second session of negotiations is planned for May 12–16, 2025, in New Delhi.
Both parties seek to seal the deal within the year-end deadline, calling for a balanced and complete trade agreement.
The FTA will cover digital trade, supply chain resilience, and regulatory cooperation, making it a transformative deal for both economies.

Sources: The Economic Times, Times of India, MSN