Goyal highlights transformative potential of India-EU FTA
Berlin Commerce and Industry Minister Piyush Goyal on Saturday highlighted the potential of the proposed India-European Union Free Trade Agreement (FTA) to expand market access, strengthen supply chains and create new opportunities for trade and investment. The agreement is expected to be signed by the end of this year, according to Goyal. During his visit to Berlin, Goyal interacted with an accompanying Indian business delegation and discussed the growing momentum in India-Germany economic relations. He urged Indian businesses, particularly micro, small and medium enterprises (MSMEs), to explore opportunities for long-term partnerships with German companies across several sectors. These sectors include textiles, pharmaceuticals, engineering, renewable energy and emerging technologies. Goyal stressed that Indian businesses should maintain high standards of quality, regulatory compliance and reliability to strengthen the country's reputation as a dependable international business partner. "Called upon the delegation to uphold the highest standards of quality, compliance, and reliability, reinforcing India's standing as a nation that delivers on its commitments and a partner the world can trust," Goyal said in a post on X. The minister also participated in a roundtable discussion with the heads of prominent German research organisations, focusing on opportunities to deepen cooperation in research, frontier technologies and innovation. Discussions covered advanced materials, artificial intelligence and stronger connections between research institutions, startups and industry. During engagements with heads of selected Fraunhofer Institutes working on emerging industrial technologies, Goyal highlighted the potential to combine Germany's precision engineering capabilities with India's skilled workforce to develop affordable and innovative solutions. He said India's continuing investments in skill development could strengthen cooperation among researchers, academic institutions and industry, particularly in research and development.
