Goyal begins France, Italy visit to deepen trade ties; India looks to fast-track EU FTA, global alliances
New Delhi: Union commerce and industry minister Piyush Goyal began a three-day official visit to France on Sunday as part of a five-day European trip that will also take him to Italy. The focus of the visit is to strengthen India's economic ties with key European partners and push the ongoing India-EU free trade agreement (FTA) talks, the commerce ministry said in a statement on Sunday.
The visit comes as India expands its global trade engagements through several bilateral and regional negotiations, while trying to position itself as a trusted partner in a rules-based global trading system, it said.
Goyal's trip is seen as part of India's broader strategy to attract more investment, build technology partnerships and secure better access to European markets.
Also read: India-US trade deal nears the finish line—final talks are set for early June
In Paris, Goyal is scheduled to meet French ministers Eric Lombard (Economy) and Laurent Saint-Martin (Trade) to strengthen the Indo-French economic relationship, the ministry said.
The discussions are expected to focus on trade facilitation, new investment opportunities and deeper cooperation in sectors such as green energy, infrastructure and innovation.
Goyal will also meet senior leaders of major French companies, including Vicat, Total Energies, L'Oréal, Renault, Valeo, EDF and ATR, the ministry said.
Two major events—the India-France Business Round Table and the India-France CEO Forum—will allow direct interaction between top Indian and French business leaders and are expected to result in new investment and partnership proposals.
Also read: US trade deficit claims are misleading, it earns billions from Indian purchases of services: GTRI
Goyal's visit coincides with the Organization for Economic Co-operation and Development (OECD) Ministerial Council Meeting in Paris. He will participate in an informal WTO ministers' gathering on its sidelines, where he is expected to present India's views on key global trade issues, including food security, sustainability, and changes needed in global trade rules amid rising protectionism.
The minister will also hold bilateral meetings with trade ministers from the United Kingdom, Singapore, Saudi Arabia, Israel, Nigeria and Brazil.
Significantly, Goyal will also meet EU Commissioners Maroš Šefčovič and Christophe Hansen, with the aim of giving fresh momentum to the India-EU FTA, which is now in advanced stages of negotiation.
'With both sides showing political will to conclude the deal, the discussions are expected to help bridge remaining gaps, especially in areas such as tariffs on automobiles and market access for Indian services," said Dattesh Parulekar, assistant professor of international relations at Goa University.
Goyal will travel to Italy next, where he is expected to continue high-level talks with government and industry leaders to boost bilateral trade and investment.
Also read: Govt to hold talks with e-commerce platforms over dark patterns
Earlier, Mint reported on 29 May that Goyal would be leading a business delegation to France and Italy and was also expected to take a separate delegation to Switzerland soon after as part of India's broader global trade outreach.
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