India-EU FTA talks nearing finalisation: Commerce Minister

Commerce and Industry Minister Piyush Goyal on Tuesday said almost 60-65 per cent chapters of the India-EU free trade agreement were completed and finalised, and expressed optimism that the agreement could be “substantially” concluded by the time of key European Union (EU) officials’ upcoming visit.

EU Trade and Economic Security Commissioner Maros Sefcovic and Agriculture Commissioner Christophe Hansen are scheduled to arrive New Delhi this week, with the former set to meet Goyal on Friday.

“I think the chief negotiators are working to converge on different parts of the agreement. Almost 60-65 per cent of the chapters also are now completed and finalised. By the time my counterpart, Mr Maros (Sefcovic), the EU Trade Commissioner, and Mr (Christophe Hansen), the EU Agriculture Commissioner, come to India, I think we will be quite set to try and conclude the agreement substantially,” Goyal said on the sidelines of 6th edition of ISA Steel Conclave.

The minister’s remarks come amid the 13th round of negotiations, which commenced on Monday between Indian and EU officials.

Goyal said the government was trying to find innovative ways to address the Carbon Border Adjustment Mechanism (CBAM). “It’s very high in our agenda,” the minister said. CBAM is the EU’s tool to put a fair price on the carbon emitted during the production of carbon-intensive goods that enter the EU, and to encourage cleaner industrial production in non-EU countries. It will be enforced from 2026.

The 13th round of the talks is expected to address issues related to non-tariff barriers such as CBAM, and market access to pave the way for a comprehensive agreement.

The EU stands as one of India’s primary export destinations, accounting for over 15 per cent of India’s total outbound shipments. In 2024-25, India exported goods worth $75.76 billion to the EU, resulting in a trade surplus of $15.10 billion.

During the conclave, the Commerce Minister said the government was actively pursuing FTAs with a number of countries to expand market access for Indian steel.

He said ongoing negotiations with the EU were being accelerated, while the recently concluded agreement with the EFTA group — Switzerland, Norway, Liechtenstein, and Iceland — would come into effect from October 1.

The agreement with the UK is currently undergoing parliamentary approval, and efforts are underway to fast-track talks with the EU.

102 fishery establishments listed for export

• Meanwhile, the Ministry of Commerce and Industry said the EU had listed 102 new Indian fishery establishments for export from India to member countries of the EU.
• This marks a major step forward in enhancing market access for Indian seafood products, especially aquaculture shrimps and cephalopods (squid, cuttlefish, and octopus).
• The development follows a series of meetings in the EU and New Delhi in which Goyal and senior officials of Department of Commerce participated.
• This reflected India’s commitment to food safety, traceability, and compliance with EU regulations, the ministry said, adding that it strengthened India’s position as a trusted supplier of high-quality seafood, and was expected to boost export volumes, generate employment, and enhance foreign exchange earnings.