Goyal emphasises cooperation, fair trade practices in EU-India business relations.
Union Minister for Commerce and Industry, Piyush Goyal, highlighted the potential for exponential growth in trade between India and the European Union, urging mutual understanding and cooperation. Speaking at the launch of the Federation of European Business in India (FEBI) in New Delhi, Goyal emphasised the shared values of democracy and rule of law, which he believes will help foster robust trade relations.
Goyal expressed concerns over certain EU policies, such as the Carbon Border Adjustment Mechanism (CBAM) and deforestation rules, which he said have impacted Indian industries. He advocated for fair and balanced trade, focusing negotiations on core business issues rather than unrelated matters.
The Minister also lauded European companies’ confidence in India’s market and leadership, projecting that as India’s economy grows to $35 trillion by 2047, there will be significant opportunities for European businesses. He urged FEBI to serve as a bridge in addressing business concerns on both sides.
