Commerce ministers from India and the European Union moved a landmark trade deal closer to completion during high level talks in Milwaukee this week, signaling fresh momentum for an agreement two decades in the making.
Piyush Goyal met with European Trade Commissioner Maros Sefcovic on Wednesday on the sidelines of the G20 Trade Ministers’ Meeting. Their conversation centered on finalizing the India EU Free Trade Agreement and preparing it for implementation.
“Good meeting my friend, Mr @MarosSefcovic, European Commissioner for Trade and Economic Security,” Goyal posted on X. He confirmed both parties reviewed the pathway toward signing and bringing the FTA into force.
The two officials also exchanged views on progress under the India EU Trade and Technology Council, meaningful reforms at the World Trade Organization, and shared G20 priorities.
India and the EU concluded negotiations in January, nearly eighteen years after talks first began in 2007. Leaders on both sides have called the pact the “mother of all deals.”
As a result, the European Commission formally asked the Council of the European Union on September 11 to authorize signing and concluding the agreement. Officials expect the FTA to be signed later this year and implemented in early 2027.
Once operational, the agreement promises expanded market access, lower tariffs, reduced non-tariff barriers, and more predictable rules for trade and investment flows. Bilateral trade in goods and services between the EU and India now exceeds 180 billion euros annually.
Meanwhile, Goyal also held separate bilateral meetings with counterparts from Brazil and Mexico, nations hit hard by US tariff policies. He discussed deepening trade and investment cooperation with Mexican Secretary of Economy Marcelo Ebrard.
“Discussed the huge potential for deeper cooperation and unlocking new avenues to further advance India-Mexico trade and investment ties,” Goyal stated in a separate post on X.
