Piyush Goyal addresses media on landmark India–EU Trade deal, highlights major sectoral gains

NEW DELHI : Union Minister for Commerce and Industry, Shri Piyush Goyal, addressed the media today following the signing of the historic India–European Union Trade Deal, describing it as a transformative milestone in India’s global trade and economic engagement.

During his interaction, the Minister highlighted that the agreement opens up a plethora of opportunities for businesses, workers, and consumers on both sides, while significantly strengthening India–EU economic ties. He emphasised that the deal reflects a shared commitment to rules-based trade, inclusive growth, and long-term strategic cooperation.

Shri Goyal underlined the significant benefits for India’s labour-intensive sectors, including textiles, garments, leather, footwear, gems and jewellery, marine products, and select engineering goods, which are set to gain enhanced access to the high-value and high-standards EU market. The agreement is expected to boost exports, create employment opportunities, and improve competitiveness for Indian manufacturers and MSMEs.

The Minister also stressed that the trade deal will act as a catalyst for greater investments and deeper collaborations between India and the EU in key areas such as research & development, innovation, clean energy, digital technologies, advanced manufacturing, and sustainability-driven industries. These collaborations are expected to accelerate technology transfer, skill development, and value creation across sectors.

Highlighting the broader economic impact, Shri Goyal noted that the agreement will enhance supply chain resilience, encourage diversification of trade, and foster a more predictable and transparent business environment. He reiterated that the deal is aligned with India’s vision of becoming a global manufacturing and innovation hub, while ensuring inclusive and people-centric growth.

The India–EU Trade Deal is being seen as a win-win partnership, strengthening economic cooperation, supporting job creation, and paving the way for long-term strategic collaboration for the mutual benefit of both economies.