New Delhi, May 14 (IANS). Commerce and Industry Minister Piyush Goyal on Thursday held a fruitful discussion with senior leaders and policy makers of Germany on strengthening India-Germany economic cooperation and furthering the India-EU trade partnership.
“The main focus of the discussions was on strengthening the business environment, enhancing investment inflows and deepening cooperation in key sectors such as textiles, pharmaceuticals, renewable energy, mobility and manufacturing,” Goyal posted on social media platform X.
He further said that both sides acknowledged the immense potential to expand trade, promote innovation and build stronger supply chains through closer partnership and stronger industrial engagement.
In March, Goyal met European Trade and Economic Security Commissioner Maros Sefcovic on the sidelines of the 14th Ministerial Conference (MC14) of the World Trade Organization (WTO) in Cameroon and reviewed the progress made on the India-EU Free Trade Agreement (FTA).
The two leaders discussed key priorities under the MC14 agenda and ‘reviewed the progress of the ongoing work towards the signing of the India-EU FTA, as announced by PM Narendra Modi and European Commission President Ursula von der Leyen in New Delhi in January 2026.’
“We also discussed ways to further deepen our bilateral economic and trade partnership,” Goyal said in a post on social media platform ‘X’.
This agreement is one of the largest trade agreements ever between the world’s second and fourth largest economies. In fact, it is not just a trade agreement. This represents a comprehensive partnership that promotes cooperation in key sectors such as artificial intelligence, defense and semiconductors. Every region and every citizen of India will benefit from this FTA.
This FTA ensures stability in rules-based trade and economic policies, making India more attractive for domestic and foreign investment. This will create countless opportunities for small businesses, startups and workers.
India has achieved unprecedented market access for over 99 per cent of its exports to the EU by trade value, significantly strengthening the ‘Make in India’ initiative. The Minister said that this FTA provides a decisive boost to labour-intensive sectors like textiles, clothing, leather, footwear, marine products, gems and jewellery, handicrafts, engineering goods and automobiles.
–IANS
SCH
