Union Minister Piyush Goyal to visit Brussels to discuss India-EU FTA, boost trade ties
In a bid to further boost trade and investment ties with the European Union (EU), Union Minister of Commerce and Industry Piyush Goyal is slated to visit Brussels, Belgium for a high-level dialogue.
)
In a bid to further boost trade and investment ties with the European Union (EU), Union Minister of Commerce and Industry Piyush Goyal is slated to visit Brussels, Belgium for a high-level dialogue. The dialogue with Maros Sefcovic, Commissioner of the European Commission for Trade and Economic Security, will have wide-ranging discussions on the India-EU Free Trade Agreement (FTA) negotiations, the Trade and Technology Council framework and bilateral trade matters, according to Ministry of Commerce and Industry.
This three-day visit from January 18-20 underlines the importance that India attaches to its trade and investment ties with the EU, one of its largest trading partners with bilateral trade estimated at over $180 billion in 2023-2024.
The EU is also a significant source of foreign direct investment (FDI), with total FDI estimated at $117.34 billion.
According to the ministry, the leaders are expected to discuss the global economic situation amid trade disruptions, give political directions to expedite the FTA negotiations and explore a commercially significant, balanced, equitable, ambitious and mutually-beneficial FTA.
On the sidelines, the Union Minister is also expected to meet Dr Ngozi Okonzo-Iweala, Director General of the World Trade Organisation (WTO), Bernard Quintin, Minister of Foreign Affairs, European Affairs and Foreign Trade of Belgium apart from holding interactions with representatives of Belgian industry and Indian community.
In December last year, Goyal highlighted that India is aiming for a balanced, comprehensive and mutually beneficial FTA with the EU.
At a meeting in New Delhi with Ambassadors of the European Commission delegation, the minister discussed the growing proximity and rising trade between India and the EU.
The FTA negotiations, after nine rounds of intense engagement, need political directions to arrive at a commercially meaningful deal while understanding the sensitivities of each other, he said.
The trade agreement with the EU would help India further expand and diversify its exports of goods and services while securing the value chains.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES

Revised New Tax Slabs: How much tax one needs to pay on salaries of Rs 13.75 lakh, Rs 16.50 lakh, Rs 19.25 lakh and Rs 26.75 lakh; see calculations

Senior Citizen Guaranteed Return Schemes: SBI, BoB, PNB and other banks are providing these interest rates on 1-year, 3-year, and 5-year FDs

SIP vs PPF: Rs 1,40,000/year investment for 30 years; which scheme can generate a higher retirement corpus

Rs 25 lakh Income, Rs 50 lakh Home Loan: Starting April 1, how you can save Rs 1.38 lakh/year in tax and loan interest; see expert calculations
10:42 AM IST