India-EU Trade Pact: Final Scrub in Progress

India and the European Union are advancing towards finalizing their free trade agreement (FTA). Both parties are working to complete the legal scrubbing of the pact within the next 15 to 20 days. The ambitious goal is to make the EU-India FTA operational by the first quarter of 2027, a significant step for bilateral trade relations.

To facilitate this, Commerce and Industry Minister Piyush Goyal is scheduled to embark on a visit to Spain, Belgium, and Finland from July 14-15. He will be accompanied by a delegation of business leaders, underscoring the importance of private sector involvement in implementing the agreement. During his trip, Goyal will also meet with EU Trade Commissioner Maros Sefcovic in Brussels to discuss expediting the ratification process.

Minister Goyal stated that India is already actively marketing its goods and services to be future-ready for the FTA. He highlighted that the finalized agreement will open the markets of 27 developed EU countries to Indian businesses, paving the way for substantial growth in the nation's exports and taking them to unprecedented heights.