At the Regional MSME Conclave in Rajkot, Gujarat, on Monday, January 12, 2026, Commerce and Industry Minister Piyush Goyal announced that trade agreement discussions between India and the European Union (EU) have reached their final stages. Simultaneously, negotiations with the United States for a bilateral trade deal are ongoing.
Goyal's remarks followed closely after high-level discussions in Brussels with EU Trade and Economic Security Commissioner, Maros Sefcovic. These talks aimed to facilitate a mutually beneficial Free Trade Agreement (FTA) between India and the EU. India is advocating for zero-duty access for its labor-intensive sectors, including textiles, leather, apparel, gems and jewellery and handicrafts.
In a post on X, Goyal stated that discussions covered key areas of the proposed agreement. He also reaffirmed commitment to a rules-based trading framework and a modern economic partnership. This partnership aims to protect the interests of farmers and MSMEs, while integrating Indian industries into global supply chains.
In December 2025, Goyal emphasized that while there has been substantial progress in negotiations with the EU, a deal would not be done in haste and must be a win-win for both sides. He stated that the agreement must be balanced to ensure a good future for trade and investment on both sides.
The Minister's update on India-U.S. trade talks coincided with remarks from the new U.S. Ambassador to New Delhi, Sergio Gor, who conveyed President Trump's good wishes to Prime Minister Modi. Gor noted the strong friendship between the two leaders and highlighted that the U.S. and India are connected not only by shared interests but also by a relationship anchored at the highest levels. He also mentioned that the next round of discussions would be held on Tuesday, January 13.
While trade remains a crucial element of the India-U.S. relationship, Ambassador Gor emphasized that the two nations will continue collaboration in other significant areas, such as security, counter-terrorism, energy, technology, education, and health.
India has been actively pursuing trade agreements with various partners. These efforts align with India's strategy to strengthen ties with trusted global trade partners. Minister Goyal has previously noted the importance of having reliable partners around the world, particularly given the weaponization of trade. In November 2025, Goyal expressed hope that India's free trade agreements with the U.S. and the EU would be finalized soon, as India is actively working with many developed countries.
