India and EU Renew FTA Talks Amid Strategic Ambitions

Union Minister Piyush Goyal and European Commissioner Maros Sefcovic held crucial discussions on the India-EU Free Trade Agreement. The conference aimed at boosting economic ties and addressing trade barriers, with both sides committed to exploring a balanced FTA to enhance prosperity for India and the EU.

Union Minister Piyush Goyal engaged in a significant video conference with European Commissioner Maros Sefcovic, focusing on the India-EU Free Trade Agreement (FTA). Held at 2030 hrs, the discussion underscored both parties' commitment to advancing trade negotiations, as reported by the Indian ministry.

The meeting was primarily convened to address ongoing FTA negotiations, the High-Level Dialogue, the India-EU Trade and Technology Council, and other related economic issues. Maros Sefcovic later posted on X, highlighting that the EU-India relationship has yet to realize its full potential and expressed enthusiasm for the deepening strategic ties.

Senior officials from both sides attended the initial introductory meeting since the formation of the new European Union Commission. Piyush Goyal welcomed President Ursula von der Leyen's reelection, emphasizing the pursuit of stability and continuity in enhancing cooperation amid global challenges.

Goyal congratulated Maros Sefovic on his new role, expressing a shared vision to draft a new Strategic India-EU Agenda. The leaders agreed to leverage their democratic values to drive prosperity for their combined population of approximately 2 billion people.

Having undergone nine rounds of intense negotiations, the FTA requires strategic political guidance to finalize a comprehensive and mutually advantageous agreement. Goyal stressed the importance of addressing non-tariff barriers, viewing them as obstacles to trade progress. The leaders aimed for a balanced and ambitious FTA, respectful of each side's sensitivities.

Both parties committed to organizing a bilateral visit through diplomatic channels, ensuring a mutual understanding of respective concerns and interests. (ANI)

(With inputs from agencies.)