India is confident of finalising a “fair and balanced” trade agreement with the European Union by the end of December, Commerce and Industry Minister Piyush Goyal said at an event in Doha. His speech coincided with the 14th round of trade negotiations, currently underway in Brussels between officials from both sides.

Goyal indicated that Commerce Secretary Rajesh Agrawal will shortly visit the EU’s headquarters to continue discussions. He highlighted that talks had been positive, with both teams working together to reach an equitable deal between the 27-nation bloc, valued at $20 trillion, and India, the fastest-growing large economy.

Goyal highlighted the complementarity between the two regions, stating that India’s young, smart, and energetic workforce has enormous potential for the EU, which is experiencing a talent deficit. Conversely, Europe’s advanced innovation and technology may create new opportunities for Indian businesses.

Goyal stated that conversations between India and the United States are ongoing at various levels. However, the ongoing US government shutdown has caused delays in the scheduling of formal meetings. He indicated that while the possibility of negotiations remains, the situation will dictate when and where they can restart.