Committed to speed up India-EU FTA, seek stronger trade ties with Italy: Piyush Goyal
New Delhi: Union Commerce and Industry Minister Piyush Goyal on Thursday reiterated India’s shared commitment to speed up the India-EU free trade agreement (FTA).
Addressing the Italy-India Business Forum during his official visit to Italy, the minister said has had three meetings, in less than 35 days, with “my friend Maros Sefcovic, EU Commissioner for Trade and Economic Security”.
“This shows our shared commitment to speeding up the India-EU FTA,” he told the gathering.
Prime Minister Narendra Modi and President of the European Commission, Ursula von der Leyen, have agreed to expedite the conclusion of the India-EU FTA by the end of the year.
Goyal said he was delighted to speak at the Italy-India Business Forum with Italian Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, Antonio Tajani.
“Our focus is on realising the Italy-India Joint Strategic Action Plan 2025-2029. Underscored the transformative potential of the IMEC Corridor and India-EU FTA. Also, extended an invitation to Italian enterprises to join India’s growth story,” Goyal said in a post on X.
They discussed and agreed to work together for ‘Industry 4.0’ for smart manufacturing, promoting a bridge between startups, expanding collaborations in technology and establishing Joint Working Groups in the Space, Automobile sectors, among others.
“At the Joint Commission on Economic Cooperation, India and Italy have identified several areas to strengthen cooperation. This includes an MoU on agriculture,” said Goyal.
India and Italy reaffirmed their commitment to deepening economic ties, with a strong focus on enhancing trade, joint ventures and connectivity through the India-Middle East-Europe Economic Corridor (IMEEC).
In a joint press conference, Tajani said there is “huge scope” for boosting India–EU trade through the potential offered by IMEEC.
Tajani called for stronger collaborations in sectors such as space, technology, steel and aluminium.