India-EU FTA: 'We're nearing the conclusion of our negotiations,' says EU Commissioner for Trade

Maros Sefcovic, the EU Commissioner for Trade, said on Sunday that India and the European Union (EU) are nearing the conclusion of the free trade agreement (FTA) negotiations. The update comes ahead of the EU-India summit, which will be hosted by Prime Minister Narendra Modi, to be held in Delhi on January 27. 

European Commission President Ursula von der Leyen and European Council President Antonio Costa will also attend India's 77th Republic Day celebrations on January 26 as guests of honour. 

Sharing a picture with Union Commerce Minister Piyush Goyal, Sefcovic wrote on X: "A big pleasure to be in India. Our 10th in-person engagement with Minister @PiyushGoyal - and I'm confident to say we're nearing the conclusion of our FTA negotiations. The cumulation of an intense past year - likely my most frequent trade engagement - reflecting its importance."

Commenting on Sefcovic's post, Piyush Goyal said: "Pleased to agree that sustained and constructive engagement between us and our teams over the past year has brought us closer to a fruitful outcome. The European Union remains a vital economic and strategic partner for India, and we value our shared commitment to a mutually beneficial, ambitious India-EU FTA for the prosperity of our businesses and people."

About the EU-India summit

At the summit, leaders are expected to adopt a joint EU-India comprehensive strategic agenda to reinforce the strategic partnership and deepen cooperation, which delivers stability and prosperity at home and beyond.

"India is a crucial partner for the EU. Together, we share the capacity and responsibility to protect the rules-based international order," European Council President Antonio Costa said. 

The joint EU-India comprehensive strategic agenda aims to enhance cooperation between both sides in four areas: prosperity and sustainability, technology and innovation, security and defence, as well as connectivity and global issues.

Both sides will also discuss trade in the context of ongoing negotiations on a free trade agreement that would boost bilateral trade and investment ties, while driving shared prosperity. 

They will also focus on closer collaboration on security and defence matters, especially in the context of establishing a security and defence partnership. 

The leaders will also discuss regional and global matters: the importance of an effective multilateral system, a free and prosperous Indo-Pacific region, Russia's war against Ukraine, and the situation in the Middle East.