On the right track of the Free Trade Convention with the European Union before the end of this year: PIYUOUH GOYAL

The Minister of Trade and Industry, Jewish Joyal, said today that India is on the right path to close the long -awaited free trade agreement with the European Union before the closure of the calendar 2025. He added: “During the European UNHCR visit to New Delhi on February 28, our leaders – Prime Minister Moody and European Commission President Ursula von der Lin gave clear instructions that we must conclude the National Trade Agreement of the European Union before the end of this General. “I am pleased to inform you that we are on the right track to achieve this.”

Goyal noted that significant progress has already been made: more than half of the negotiating classes have been completed, and that the teams are approximately 90 percent ready for the provisions of access to the market. “From Monday, we will start extensive talks on services and rules of origin. This should not be difficult, although there may be some areas where intervention at the ministerial level is necessary,” he said.

The main focus remains dismantling of non -carrier barriers to ensure smoother trade flows in two directions. “The important issue that must be addressed between us is the non -carrier barriers and how we will make it smoother, easier and better to do commercial businesses between the European Union and India. It is a two -way traffic,” he stressed.

Joyal said: “The eye of the eye will make the entire world blind,” adding, “Unless countries realize that excessive organization and barriers that prevent trade will meet mutual action, so everyone who suffers from it.”

Joyl praised the “honesty of the goal” that his counterpart, European Union Trade Commissioner Marus Sevkovic, has expressed his confidence that both sides would reach “strong solutions” to simplify regulations, reduce compliance costs and remove obstacles to free trade. He added: “I am confident that we are about to finish this deal.”

Later this month, the European Union delegation, led by Civkovic New Delhi, is scheduled to visit with high -level talks aimed at resolving the remaining issues. Opinioners say that negotiators are targeting a final text by November, and they pave the way for ratification in the mandate of the members before the end of December. Both sides view the agreement not only as a batch of trade sizes, but as a strategic partnership that will enhance economic relations in a global market that is increasingly interconnected.

Talks on the free trade deal in India and the European Union were resumed in 2021 after an eight -year hiatus. The European Union is the largest commercial partner in India in the goods, where trade grows in two directions about 90 percent over a decade to reach 137.5 billion dollars in the fiscal year 2023-24. Meanwhile, the Minister of International Development Cooperation and Foreign Trade Benjamin Dosa urged both sides to address the customs tariffs and unbearable barriers, warning that “in the European Union and India, we are at the time now.”