India Set to Finalize Trade Agreements with EU and US Soon, Says Piyush Goyal
Trade pact with EU, US in next few months: Piyush Goyal
The Economic Times
Image: The Economic Times
Commerce and Industry Minister Piyush Goyal announced that India is on track to finalize free trade agreements (FTAs) with the European Union and the United States in the coming months. This follows the signing of a free trade agreement with New Zealand, marking the seventh such pact during his tenure.
- 01India's FTA with New Zealand is the seventh signed under Piyush Goyal's tenure.
- 02Two additional FTAs with the EU and US are expected in the next few months.
- 03Negotiations for the EU trade pact were closed in January 2026 but have not yet been signed.
- 04Recent talks with US officials focused on various trade facilitation issues.
- 05The interim trade agreement framework with the US requires adjustments due to changes in US tariffs.
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Commerce and Industry Minister Piyush Goyal announced that India has signed a free trade agreement (FTA) with New Zealand, marking the seventh such pact during his tenure over the last three and a half years. Goyal indicated that two more agreements with the European Union (EU) and the United States (US) are expected to be finalized in the coming months. The FTA with New Zealand is anticipated to come into effect by the end of this year. In January 2026, India and the 27-nation EU bloc announced the closure of negotiations for their trade pact, which has yet to be signed. Meanwhile, a recent Indian delegation returned from Washington after three days of discussions with US authorities, focusing on key areas such as market access, non-tariff measures, and customs facilitation. A joint statement issued on February 7 outlined a framework for an interim trade agreement with the US, which will require recalibration in light of changes in the US tariff landscape.
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The upcoming trade agreements with the EU and US could lead to increased market access for Indian goods, potentially benefiting exporters and consumers alike.
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