Commerce and Industry Minister Piyush Goyal today said India and the European Union are working with sincerity and commitment to finalize a comprehensive and balanced Free Trade Agreement that will benefit businesses and consumers on both sides.
Addressing the Annual Session of the Automotive Component Manufacturers Association in New Delhi, Mr Goyal noted that such an agreement cannot be a one-sided arrangement, as every negotiation involves a certain degree of give and take to ensure fairness and balance. The Minister stressed that the direction in which the negotiations are moving is extremely positive. He expressed confidence that the possibilities being unlocked through this process are immense and will open up opportunities for trade, investment, technology transfer, and deeper economic engagement.
Mr Goyal expressed confidence that a bold and forward-looking industry such as the automotive component sector will find the provisions being crafted under the India-EU partnership to be attractive and full of potential. He underlined that the sector has consistently demonstrated resilience and foresight, not only by supporting India’s domestic manufacturing base but also by integrating with global value chains.
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