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Maroš Šefčovič, the European Commissioner for Trade, addressed the News9 Global Summit, underscoring the significant momentum behind the India-European Union Free Trade Agreement (FTA). With high stakes for industry, sustainability, and geopolitical balance, both sides are intensifying efforts to conclude negotiations by the end of 2025.
Commissioner Šefčovič highlighted the burgeoning economic relationship, noting that trade between the EU and India soared by 90% over recent decades. In 2024, trade in goods reached approximately 120 billion Euro, positioning the EU as India's largest trading partner.
Furthermore, EU investment in India has nearly doubled in five years, reaching 140 billion Euro, directly employing two million people and indirectly supporting another six million jobs through over 6,000 European companies.
Intensive discussions between Commissioner Šefčovič and Indian counterpart Minister Piyush Goyal, including 13 rounds of negotiations, aim to create an economically meaningful and mutually beneficial package. The FTA seeks to tackle tariff and non-tariff barriers, open new trade and investment opportunities, and strengthen global supply chains.
