India–EU FTA in 2026, jobs and growth ahead
India pursuing FTAs with developed nations only; growth story, not politics, is New Delhi’s clear message, says Goyal
Commerce and Industry Minister Piyush Goyal on Friday said that under Prime Minister Narendra Modi’s leadership, India has pursued free trade agreements (FTAs) only with developed economies that genuinely complement the country’s strengths and long-term interests. Drawing a sharp contrast with the ASEAN-led Regional Comprehensive Economic Partnership (RCEP), Mr. Goyal placed responsibility for initiating those negotiations on the previous UPA government, reiterating that there is no question of India rethinking its decision to stay out of the bloc.
Speaking in an interview to The Hindu, Mr. He stressed that India is no longer entering trade agreements for the sake of numbers, but is instead focused on quality partnerships that deliver real gains for domestic industries, workers, and entrepreneurs.
Goyal said the deal was finalised quickly because it had strong political backing and clear direction from the Prime Minister. “The EU FTA moved at pace because I had the confidence and guidance of Prime Minister Modi,” he said, adding that decisive leadership makes a critical difference in complex negotiations.
The Minister underlined that India’s FTAs today are designed to protect and promote labour-intensive sectors such as textiles, footwear, leather, and handicrafts, while also opening new opportunities in services, technology, and manufacturing. According to him, these agreements are structured to ensure fair market access, safeguard Indian interests, and avoid the pitfalls of asymmetric trade deals that hurt domestic producers.
On the RCEP, Mr. Goyal reiterated that India walked away because the proposed terms did not adequately address concerns around market access, safeguards, and unfair competition. He said the current government had the courage to take a tough call rather than compromise on India’s economic future.
Responding to the EU’s view that the FTA also carried a political message to the United States, Mr. Goyal dismissed such interpretations. India’s message, he said, is simple and consistent: a strong growth story driven by reforms, competitiveness, and global engagement on its own terms.
“Our focus is India’s development,” he said. “Trade agreements are tools to accelerate growth, create jobs, and integrate India with the world—without sacrificing our core interests.”