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Piyush Goyal’s Europe visit strengthens India’s trade ties
Meetings focused on trade, investment, technology and advancing India-EU economic cooperation.
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IANS - Mon, 20, Jul 2026
- 01:40 EDT
- 39
Commerce Minister Piyush Goyal / File Photo/IANS
Union Commerce and Industry Minister Piyush Goyal has concluded a five-day visit to Spain, Belgium, Finland and Estonia aimed at strengthening India's economic partnership with Europe and building on the momentum of the recently concluded India-European Union Free Trade Agreement (FTA) negotiations, the Ministry of Commerce and Industry said on July 20.
The visit, held from July 13 to 18, included meetings with ministers, senior government officials, business leaders and industry representatives across the four countries to promote investment, technology collaboration and business-to-business engagement. Goyal was accompanied by a high-level Indian business delegation.
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According to the ministry, the engagements are expected to strengthen technology partnerships, encourage investment flows, improve market access for Indian exporters and expand cooperation in emerging sectors.
In Spain, Goyal met Carlos Cuerpo Caballero, First Vice-President and Minister of Economy, Trade and Business, and Jordi Hereu Boher, Minister of Industry and Tourism.
During the discussions, Goyal proposed an annual India-Spain Joint Commission meeting with business participation, while the Spanish side proposed creating a dedicated "India Team" to facilitate bilateral engagement.
Both countries also agreed to advance technical discussions on interoperability between India's Unified Payments Interface (UPI) and Spain's Bizum digital payments platform. They identified opportunities for collaboration in the automotive, pharmaceuticals, chemicals, textiles, renewable energy, tourism and infrastructure sectors.
Addressing the India-Spain Business Forum, Goyal urged businesses to establish early partnerships to capitalize on opportunities created by the India-EU FTA. He also outlined a "10×10×10" vision to increase bilateral trade, investment and tourism tenfold over the next decade.
In Brussels, Goyal co-chaired the third India-EU Trade and Technology Council (TTC) Ministerial Meeting, where he welcomed the adoption of the 2026-27 TTC Action Plan.
The meeting also noted the approval of 21 additional Indian fishery establishments for exports to the European Union, taking the total number of approved establishments to 625. India also raised the issue of listing Indian ship recycling yards and proposed launching an India-EU dialogue on skills, education and talent mobility.
The two sides reaffirmed their commitment to work toward the early signing and implementation of the India-EU FTA.
Discussions also covered negotiations on the Investment Protection Agreement and the Geographical Indications Agreement, cooperation on the Carbon Border Adjustment Mechanism (CBAM), regulatory simplification, agricultural market access, duty derogation for Basmati rice, steel scrap and other trade-related issues.
In Finland, Goyal met Acting Prime Minister and Finance Minister Riikka Purra and Minister of Economic Affairs Sakari Puisto. Their discussions focused on expanding cooperation in artificial intelligence, 6G, quantum technologies, clean energy, the circular economy, advanced manufacturing and innovation.
He also invited Finnish companies to establish manufacturing facilities in India to serve global markets while expanding collaboration in telecommunications, data centres, cloud computing and workforce development.
Goyal concluded the visit in Estonia on July 18, marking the first ministerial-level visit from India since the opening of India's resident embassy in Tallinn in 2021.
Addressing the India-Estonia Business Forum, he encouraged businesses from both countries to deepen cooperation in cybersecurity, blockchain, clean energy and green hydrogen, the ministry said.
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