New Delhi [India], October 29 (ANI): Union Commerce and Industry Minister Piyush Goyal on Wednesday said India is working towards a 'fair, equitable and balanced' Free Trade Agreement (FTA) with the European Union, with significant progress being made in the ongoing negotiations.

Speaking after his visit to Brussels from October 26-28, 2025, Minister Goyal said he had productive engagements with Maros Sefcovic, European Commissioner for Trade and Economic Security, on outstanding issues related to the India-EU FTA negotiations.

'We have agreed to close 10 out of 20 chapters. Another four or five chapters have, in principle, been broadly decided and on more and more issues we are leading towards convergence,' Goyal said, adding that when the EU team visits next week for the next round of negotiations, possibly in late November or December, both sides should be in a position to make 'significant and substantial progress towards closure.'

Minister emphasized that the negotiations are being conducted in a spirit of partnership to promote trade, investments, and technology, while recognizing mutual sensitivities and strengths.

Goyal, who also participated in the Berlin Global Dialogue said his meetings with counterparts from the German government, other countries, and European businesses revealed strong interest in expanding relations with India.

'More and more countries and almost all businesses today want to expand relations with a resurgent, strong, decisive, democratic and aspirational India, full of youth, talent and skills, growing consumer demand, fastest growing large economy, doubling every eight years,' he said.

Goyal highlighted India's commitment to inclusive and sustainable growth, which opens 'large two-way opportunities' for both the European Union member states and India.

During the Brussels visit, he said there was intensive engagement to explore possible solutions on outstanding issues.

Goyal raised India's concerns regarding non-tariff measures and new EU regulations.

The minister emphasized the need for preferential treatment for India's key demands, particularly those related to labor-intensive sectors. Both sides agreed to work closely to finalize non-sensitive industrial tariff lines.

However, issues related to steel, automobiles, the Carbon Border Adjustment Mechanism (CBAM), and other EU regulations still require further discussion due to their higher sensitivities, officials said.

At the international forum, Minister Goyal reiterated that under Prime Minister Narendra Modi's leadership, 'India once again demonstrated that we speak for the global south. We represent the voice of the less privileged, less developed or developing economies, and stand for collective action for global good, peace and prosperity.'

India recognizes the importance of ensuring that the FTA remains balanced in addressing both tariff and non-tariff barriers while creating transparent and predictable regulatory frameworks that accelerate trade for both partners.

To advance the discussions, the EU technical team led by the Director General for Trade will visit India next week with the objective of achieving a constructive conclusion based on the potential solutions identified during the Brussels talks.

'India looks forward to working closely with the European Union to transform this vision into reality through shared innovation, balanced, equitable, and meaningful trade, and a collective commitment to peace and prosperity,' Goyal concluded.

On 17 June 2022, the European Union relaunched negotiations with India for a Free Trade Agreement.

India and the EU resolved to conclude the India-European Union Free Trade Agreement (FTA) by the end of 2025. This commitment builds on the strategic direction given by Prime Minister Narendra Modi and President of the European Commission, Ursula von der Leyen during the landmark visit of the EU College of Commissioners to New Delhi in February 2025. (ANI)