India fully support rules-based Global trade
Shrimp Piyush Goyal Union Minister of Commerce and Industry and Ngozi Okonjo-Iweala, Director-General of the World Trade Organisation (WTO),met on the margins of the sixteenth United Nations Conference on Trade and Development (UNCTAD16) in Geneva. The meet highlighted India’s continued advocacy for a transparent, predictable multilateral trading framework.
Shrimp Goyal has reaffirmed India’s strong commitment to upholding a rules-based global trading system and expressed the nation’s readiness to collaborate actively with the WTO towards expanding worldwide trade opportunities. Both sides discussed actionable strategies to address immediate trade challenges and to bolster pathways for shared economic growth in the coming years.
India is in talks to close outstanding issues regarding its Free Trade Agreement (FTA) with the European Union and pursues a mutually advantageous Bilateral Trade Agreement (BTA) with the United States.
In parallel, Minister Goyal met EU Commissioner for Trade and Economic Security, Maros Sefcovic, for detailed discussions on the stalled points within the India-EU FTA negotiations. Both leaders conveyed optimism, underscoring a joint resolve to transform the partnership and deliver tangible gains on trade and investment.
Further conversations with Teresa Ribera, Executive Vice-President for Clean, Just and Competitive Transition at the European Commission, centred on deepening cooperation for sustainable development and advancing the green transition agenda. These exchanges reflect both sides’ recognition of the strategic imperative to integrate climate considerations within future trade pacts.
According to Commerce Secretary Rajesh Agrawal, the India-EU FTA talks have entered their final phase, raising expectations that the deal may be concluded by December this year. Ongoing discussions are intensely focused on Rules of Origin, a critical component relating to the minimum local content required for tariff preferences.
Simultaneously, New Delhi and Washington are continuing technical negotiations to secure a comprehensive BTA. Indian officials have engaged directly with US counterparts, including Ambassador-designate Sergio Gor, to resolve long-pending market access and regulatory issues. The agenda for upcoming talks encompasses the energy and technology sectors, signifying the broader scope of the evolving trade relationship.
India is determined to defend its commercial interests while remaining a reliable advocate of fair and rule-bound international commerce. These negotiations are expected to shape not only the future direction of World trade and also India’s standing in a volatile global economic landscape.
