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Informist, Wednesday, Oct. 29, 2025

 

--Minister Goyal: Agreed to close 10 out of 20 chapters of FTA with EU 
--Minister Goyal: Leading to convergence on more issues with EU on FTA 
--CONTEXT: Minister Goyal's comments at press briefing on India-EU FTA 
--Minister Goyal: Talks on EU carbon tax moving in right direction 
 

NEW DELHI – India and the European Union have agreed to close 10 out of 20 chapters of the proposed free trade agreement, Commerce Minister Piyush Goyal said Wednesday. The two sides have "substantially agreed" on another four to five chapters as well, Goyal said at a press conference. 

 

"On more and more issues, we are leading towards convergence so that when there are three visits next week for the next round of negotiations or the trade commissioner visits India, maybe end of November or sometime in December, as we discussed, we should be in a position to make significant and substantial progress towards closure," Goyal said. A team from the EU will visit India next week to advance the ongoing discussions and achieve a conclusion to the trade pact discussions.

 

Earlier this week, Goyal met European Commissioner for Trade and Economic Security Maros Sefcovic in Brussels, where the two discussed outstanding issues in the ongoing India-EU free trade agreement negotiations. The two sides reaffirmed the goal to conclude trade pact negotiations by end of this year, the commerce ministry said in a press release earlier in the day.

 

Asked about discussions on the EU's Carbon Border Adjustment Mechanism, Goyal said these are moving in the right direction. Under the Carbon Border Adjustment Mechanism, those exporting goods to the EU have to report the carbon content of the commodity, which will determine the tax on it. The carbon tax collection is expected to begin in 2026.

 

India and the EU had initiated the negotiations for the trade deal in 2023 after talks were stalled nine years ago. The trade talks, which had started in 2007, were suspended due to differences over market access. The EU accounts for over 15% of India's total outbound shipment. India had exported $78.85 billion worth of goods to the EU in 2024-25 (Apr-Mar) and had a trade surplus of $15.17 billion with the bloc.  End

 

US$1 = INR 88.20

 

Reported by Shubham Rana

Edited by Tanima Banerjee

 

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