Days after concluding the Free Trade Agreement (FTA) negotiations with the European Union, Union Minister of Commerce and Industry Piyush Goyal said that countries across the world are increasingly looking at India’s future potential while engaging in trade discussions. Mr. Goyal described the agreement as a long-awaited but carefully negotiated deal, stressing that it was concluded without any artificial deadlines or external pressure.

Addressing speculation around the timing of the deal, especially with EU leaders attending India’s Republic Day celebrations, the minister said the conclusion of the FTA was merely a happy coincidence and not influenced by the visit. He noted that both sides were committed to achieving a win-win outcome, even if it meant taking more time. While a few issues remained unresolved until the final weeks, progress accelerated after Mr Goyal visited Brussels in early January.

Mr Goyal also dismissed suggestions that geopolitics played a significant role in the agreement. He pointed out that negotiations had already begun in 2021 and were driven primarily by economic considerations rather than global political shifts. According to him, the EU sees India as a trusted partner and an economy poised for rapid growth, with the potential to expand from $4 trillion to $30 trillion over the next two decades. This, he said, makes India an increasingly attractive destination for global trade and investment.