India announces trade tour to Spain, Belgium, Finland for EU deal

India is set to embark on a significant high-level trade tour of Spain, Belgium, and Finland, led by Minister of Commerce and Industry Piyush Goyal. The primary objective of this diplomatic and economic mission is to review the existing economic partnership between India and the European Union, and crucially, to expedite the implementation of the recently negotiated free trade agreement.

“

The visit comes at a crucial moment for India-EU relations, as both parties are committed to the early implementation of the India-EU Free Trade Agreement.

The delegation's visit comes at a pivotal moment for India-EU relations, as both parties are committed to the swift operationalization of their free trade pact. India seeks an agreement that is described as ambitious, balanced, and mutually beneficial. This tour follows the preliminary agreement reached earlier in the year between European Commission President Ursula von der Leyen and Indian Prime Minister Narendra Modi, concluding 18 years of negotiations. Brussels anticipates finalizing the pact by year's end, with an expected implementation in 2027, promising access to a market of 2 billion consumers through the removal of tariffs on 90% of goods.

“

an ambitious, balanced, and mutually beneficial agreement

In Spain, Goyal and his delegation will engage with key ministers of Economy, Industry, and Foreign Affairs to discuss the agreement's impact on competitive sectors such as automotive, olive oil, wine, and machinery. The Indian government highlighted that numerous Spanish companies like Iberdrola and Acciona already have a strong presence in India, while Indian firms such as TCS and Infosys are expanding their operations in Spain. The tour will continue to Belgium, where the minister will visit the Port of Antwerp and co-host the third India-EU Trade and Technology Council ministerial meeting in Brussels. The journey concludes in Finland on July 17.

“

Spanish companies like Iberdrola, Acciona, CAF, Talgo, Gestamp and Indra already have a solid presence in India, while Indian companies like TCS, Infosys, Wipro, Tech Mahindra and L&T are expanding their operations in Spain.