New Delhi, May 14 (IANS) Commerce and Industry Minister Piyush Goyal on Thursday held a productive discussion with senior leaders and policymakers from Germany on strengthening India-Germany economic cooperation and advancing the India-EU trade partnership.

“The discussions focused on strengthening the business environment, enhancing investment flows, and deepening collaboration across key sectors including textiles, pharmaceuticals, renewable energy, mobility and manufacturing,” Goyal posted on X.

Both sides acknowledged the immense potential for expanding trade, fostering innovation, and building resilient supply chains through closer partnership and stronger industry engagement, he added.

In March, Goyal met Maros Sefcovic, European Commissioner for Trade and Economic Security, on the sidelines of the 14th Ministerial Conference (MC14) of the World Trade Organisation (WTO) in Cameroon, and reviewed progress on the India-EU free trade agreement (FTA).

Both the leaders deliberated on key priorities under the MC14 agenda and “reviewed progress on the ongoing work towards the signing of the India-EU FTA, as announced by PM Narendra Modi and European Commission President Ursula von der Leyen in January 2026 in New Delhi.

“Also discussed avenues to further deepen our bilateral economic and trade partnership,” said Goyal in an X post.

The agreement between the world’s second- and fourth-largest economies is among the biggest trade deals ever signed. In fact, it is far more than a trade deal. It represents a comprehensive partnership that fosters cooperation in critical sectors such as artificial intelligence, defence, and semiconductors. The FTA will benefit every region and citizen of India, the article observed.

The FTA ensures rules-based trade and stability in economic policies, making India even more attractive for domestic and foreign investment. This will create numerous opportunities for small businesses, startups, and workers.

India has secured unprecedented market access for more than 99 per cent of its exports to the EU by trade value, strongly bolstering the Make in India initiative. The FTA gives a decisive boost to labour-intensive sectors such as textiles, apparel, leather, footwear, marine products, gems and jewellery, handicrafts, engineering goods, and automobiles, the minister contended.

—IANS

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