Commerce and Industry Minister Piyush Goyal has described the India-European Union Free Trade Agreement (FTA) as a “win-win” for both sides, saying the deal will strengthen economic ties and support India’s goal of becoming a developed nation by 2047.
Speaking to NDTV during a five-day visit to Germany and the Netherlands, Goyal said the agreement could become the fastest trade deal concluded by the European Union. India and the 27-member bloc announced the conclusion of FTA negotiations on January 27, 2026.
Goyal said the final legal agreement was expected to be signed by the end of 2026, with implementation potentially beginning in March or April 2027, subject to the necessary approvals from EU member states.
He said the agreement would create opportunities in goods, services, investment, technology partnerships, talent and education.
Around 6,000 European companies already operate in India, while the minister highlighted the country’s 1.4 billion people and expanding middle class as key attractions for investors.
Goyal added that India’s concluded and ongoing free trade agreements could collectively cover economies accounting for 76% of global GDP, worth approximately $85 trillion, within the next 18 months.
Separate negotiations on an India-EU Investment Protection Agreement and a Geographical Indications pact are also continuing. Goyal said the latter would require legal changes in India.
He also highlighted regulatory burdens in parts of Europe, saying they could affect European businesses and potentially encourage investment in countries such as India.
