India and the European Union (EU) are likely to successfully conclude a free trade agreement (FTA) by the end of 2025, several Indian government officials said in various statements on Thursday, June 12.
India and the EU have made “very good progress” in FTA talks up to now and a year-end completion of the talks and a signing of an agreement is very “feasible”, India’s minister for external affairs S Jaishankar said in a statement while on a tour of Europe.
Minister for commerce and industry Piyush Goyal also in a separate statement said “a deal may be concluded very soon”. “There’s a saying which goes so near and yet so far. So, I would believe that in the case of the European Union we are really very near,” he said.
“There are just a few issues remaining to be sorted out,” he said, adding that both sides had agreed to respect each other’s sensitivities and not let irritants get in the way, which in the past held back agreements between the sides.
Meanwhile, Sweden has also called for a swift conclusion of the long-pending EU-India free trade agreement, citing over-regulation on both sides.
Sweden’s minister for international development cooperation and foreign trade Benjamin Dousa said reducing tariffs and easing compliance could unlock major economic gains for both regions.