NEW DELHI: Union commerce minister Piyush Goyal on Wednesday expressed hope about the possibility of “an early conclusion” of India-EU free trade negotiations, and said talks on the India-US bilateral trade agreement are progressing in New Delhi without giving any specific deadline for concluding the first tranche of the BTA.
Replying to a specific question on the conclusion of the India-EU FTA, he said: “Well, I think, the air is pregnant with possibilities. While every agreement has many dynamics, I can say with certainty, both sides are committed to an early conclusion of the deal”.
The minister was speaking to reporters in Jaipur.
He, however, declined to give any deadline, hoping for an early conclusion of the free trade agreement. “Whether it happens in one month, whether it happens next week, or next month, you will wait and watch,” he said. The minister was speaking to media persons on the sidelines of the Pravasi Rajasthani Divas in Jaipur.
After completion of the 14th rounds of India-EU FTA negotiations on October 6-10 this year in Brussels, the two sides remained engaged in technical discussions that took place on November 3-7 in New Delhi. The discussions continued as of this week with a large EU delegation, including members of the negotiating team visiting India from December 3-9 in New Delhi.
Negotiations also received political support as visiting EU commissioner for trade and economic security Maroš Šefčovič met Goyal, finance minister Nirmala Sitharaman and external affairs minister S Jaishankar during his two-day (December 8-9) Delhi visit coining the visit of the EU’s negotiating team.
{{/usCountry}}Negotiations also received political support as visiting EU commissioner for trade and economic security Maroš Šefčovič met Goyal, finance minister Nirmala Sitharaman and external affairs minister S Jaishankar during his two-day (December 8-9) Delhi visit coining the visit of the EU’s negotiating team.
{{/usCountry}}Government officials and industry experts expect that the India-EU FTA would be announced during the India EU Summit, which may coincide with the Republic Day on January 26, 2026.
Goyal also spoke on the completion of the first tranche of the India-US BTA negotiations in the light of senior American officials meeting with Indian negotiators in New Delhi on December 10-11, and said he will meet them on Thursday, between his Parliamentary engagements and his scheduled visit to Mumbai to meet a visiting Italian delegation. The American team is led by ambassador Rick Switzer, deputy US Trade Representative (USTR).
Replying to a specific question on the possibilities of concluding the first phase of the proposed BTA negotiations by the end of 2025, he said: “I said many times that all agreements, all discussions, have many diverse, many different angles. Many dots have to be connected. And we never negotiate deals with deadlines.”
On Wednesday, India’s commerce secretary Rajesh Agrawal met with Switzer and the two sides exchanged views on matters related to India-US trade and economic ties, including on the ongoing negotiations for a mutually beneficial BTA, the ministry said in a post on X.