Portugal sees strong complementarity with India as EU-India FTA nears completion: João Rui Ferreira

New Delhi [India], May 11 (ANI): Portugal is looking to deepen economic ties with India, leveraging its expertise in renewable energy, industrial equipment and digital technologies to complement India's infrastructure and industrialisation push, according to Portugal's Secretary of State for Economy João Rui Ferreira

Speaking on the sidelines of CII Annual Business Summit 2026, the visiting minister from Portugal said, "The word I will take from this is complementarity." Describing the outcome of his engagements in India as "very positive," he noted that Portugal's know-how and technology are very much aligned with the Portuguese knowledge, talent, and skills needed for India's scale and industrial growth.

"Portuguese business, Portuguese companies have here a good opportunity," he said while also highlighting India as a "global market for Portuguese companies to expand their business."

A key focus of the visit was the progress on the India-EU Free Trade Agreement, which Ferreira said is in its "final discussions" and details could be concluded "next year, hopefully as early as possible."

Portugal has been pushing for the agreement since the beginning, he noted, calling it a step toward creating a "regulatory framework that will be predictable stable" where "companies on both sides understand the field they are playing, the rules, the standards."

Ferreira emphasized that the FTA would go beyond tariffs to unlock broader complementarity between the two blocs.

"From one side access to a global market of 450 million consumers in Europe with the right standards, the right conditions and in the other side in order to answer to this 2047 agenda a global impact in European economies to open this to this scale in Indian market," he said. Ferreira pointed to renewable energy and digital transition as areas where the partnership can deliver immediate gains.

"Eighty per cent of our energy consumption comes from renewable sources," he said stating that Portugal can share knowledge and competencies to support India's clean energy transition. Portuguese firms in tooling, machinery and equipment also see opportunities to partner in India's industrialization."I see here clearly a win-win situation," he said.

Tourism, he said is another area of collaboration, with Portugal positioning itself for Indian travellers as "a gateway to access the single market and to Portuguese-speaking countries." Ferreira added that Portugal is becoming "more and more interesting for Indian tourists who are travelling to Europe."

Addressing the broader geopolitical environment, Ferreira said the world needs stability for business to thrive.

"We need stability, we need a peaceful environment to develop business," he said, stressing that conflicts create uncertainty and increase dependence on fossil fuels. Portugal's success in renewables, he said, shows the importance of reducing that reliance. (ANI)

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