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Goyal holds talks with EU trade chief to address FTA concerns

Set to visit Brussels next week

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Commerce & Industry Minister Piyush Goyal in Geneva. ANI
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Union Commerce Minister Piyush Goyal held talks with Maroš Šefcovic, EU Commissioner for Trade and Economic Security, focusing on resolving outstanding issues in the India-EU Free Trade Agreement (FTA) ahead of his visit to Brussels next week.

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“Had a productive engagement focused on the positive resolution of the outstanding issues with respect to the India-EU FTA,” Goyal said on X.

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He further highlighted the shared commitment on both sides — India and EU — towards redefining the relationship was deeply encouraging.

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Šefcovic echoed the sentiment, stating that both sides remain committed to strengthening trade and investment ties and “elevating the EU-India relationship to a new level”.

In Geneva, Goyal also attended the 16th Session of the United Nations Conference on Trade and Development (UNCTAD XVI), where he delivered India’s national statement and participated in key discussions.

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Highlighting India’s transformation into one of the world’s top five economies, Goyal noted the nation’s over 7 per cent annual growth rate in the past three years and its capacity to double its economy every eight years. He said India had lifted millions out of poverty, with a growing middle class now driving demand and consumption.

Emphasizing sustainability, Goyal said half of India’s installed power capacity now came from renewable sources, with 250 GW currently installed and a target of 500 GW by 2030. Despite housing 17 per cent of the global population, India contributed just 3.5 per cent to global emissions.

He criticised developed countries for failing to meet their Paris Agreement commitments, including the $100 billion pledge in climate finance and technology transfer. Goyal opposed environmental trade barriers and stressed the need for fair, actionable solutions.

Calling for greater South-South cooperation, Goyal emphasised collaboration in critical minerals, fertilizers and supply chain management.

“India’s demographic advantage — a median age of 28.5 years — combined with democratic governance and rule of law, continues to drive economic growth,” he said.

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