India–EU FTA Opens Huge Opportunities for Farmers, MSMEs, Innovators, Startups and Businesses in India and Europe: Commerce and Industry Minister Shri Piyush Goyal

The Union Minister of Commerce and Industry recently highlighted the conclusion of the India–European Union (EU) Free Trade Agreement (FTA), an agreement developed over 25 years. The FTA aims to integrate a market of 2 billion people, representing approximately 25% of global GDP and 33% of world trade. The agreement includes provisions to scrap or reduce tariffs on over 95% of goods traded between the two regions. Key areas for cooperation between India and Belgium include gems and jewellery, semiconductors, green hydrogen, defence, and advanced manufacturing. The Port of Antwerp-Bruges is identified as a critical logistical gateway for Indian exports to Europe. The Minister emphasized that the partnership leverages India's scale and talent alongside Belgium's technology and capital to foster economic resilience.